The GovCon Index recorded a narrow gain of 0.091 points to 79.018 Friday to post its third consecutive weekly rise as U.S. markets showed caution after the May payrolls report showed 38, 000 jobs created in May to fall well short of economist forecasts.
According to CNBC, analysts expected the Labor Department to report 162, 000 new jobs in May and markets have now priced in September as the closest month to expect an interest rate increase at 54 percent compared to 33 percent for July and 8 percent at this month’s Federal Reserve policy meeting.
GovCon Index stock Raytheon (NYSE: RTN) reached a new 52-week high in intraday activity, as did L-3 Communications (NYSE: LLL) for the second consecutive day since the Defense Department announced the company as the winner of a nine-year, $1.9 billion contract to carry out logistics work on the Air Force’s KC/KDC-10 refueling aircraft.
Top GovCon Index Net Gainers
| Symbol | Company | $ Current Price | Net Change –´ | % Change |
|---|---|---|---|---|
| LLL | L-3 Communications * | 141.97 | +2.11 | +1.51% |
| NOC | Northrop Grumman * | 215.18 | +1.80 | +0.84% |
| RTN | Raytheon * | 133.86 | +1.70 | +1.29% |
| TXT | Textron * | 39.96 | +1.45 | +3.77% |
| LMT | Lockheed Martin * | 238.92 | +1.09 | +0.46% |
Top GovCon Index Percentage Gainers
| Symbol | Company | $ Current Price | Net Change | % Change –´ |
|---|---|---|---|---|
| TXT | Textron * | 39.96 | +1.45 | +3.77% |
| LLL | L-3 Communications * | 141.97 | +2.11 | +1.51% |
| RTN | Raytheon * | 133.86 | +1.70 | +1.29% |
| GIB | CGI Group | 47.45 | +0.48 | +1.02% |
| NOC | Northrop Grumman * | 215.18 | +1.80 | +0.84% |
* Also listed in the S&P 500 composite index
Market Summary
| Advancing GovCon Index Issues | 15 |
| Declining GovCon Index Issues | 15 |
| Unchanged GovCon Index Issues | 0 |
| Index | Value | Net Change | % Change |
|---|---|---|---|
| GovCon Index | 79.018 | +0.091 | +0.115% |
| S&P 500 | 2, 099.13 | -6.13 | -0.29% |
| Dow Jones Industrial Average | 17, 809.66 | -28.90 | -0.16% |
| NASDAQ | 4, 942.53 | -28.85 | -0.58% |
