The GovCon Index showed signs of life Thursday with a gain of 1.105 percent to 73.040 amid further turmoil in international financial markets as U.S. stocks also rallied amid global losses.
The S&P 500 rose 1.67 percent to show its largest gain in almost six weeks and go back above the 1, 900 mark.
Crude oil futures in New York settled up 2.4 percent to $31.20 a barrel, brent crude in London climbed 1.7 percent to $30.82 a barrel and energy stocks responded with a gain of nearly 5 percent, according to Bloomberg.
Investors also welcomed comments from St. Louis Federal Reserve President James Bullard to play down expectations on another interest rate hike, Bloomberg reported.
Top GovCon Index Gainers
| Symbol | Company | $ Current Price | Net Change | % Change |
|---|---|---|---|---|
| MCK | McKesson Corp.* | 164.78 | +6.94 | +4.40% |
| LDOS | Leidos Holdings | 55.82 | +2.07 | +3.85% |
| I | Intelsat | 3.11 | +0.09 | +2.98% |
| ICFI | ICF International | 34.14 | +0.98 | +2.96% |
| MMS | Maximus | 53.56 | +1.34 | +2.57% |
*Also listed in the S&P 500 composite index
Market Summary
| Advancing GovCon Index Issues | 24 |
| Declining GovCon Index Issues | 5 |
| Unchanged GovCon Index Issues | 1 |
| Index | Value | Net Change | % Change |
|---|---|---|---|
| GovCon Index | 73.040 | +0.798 | +1.105% |
| S&P 500 | 1, 921.83 | +31.55 | +1.67% |
| Dow Jones Industrial Average | 16, 379.05 | +227.64 | +1.41% |
| NASDAQ | 4, 615.00 | +88.94 | +1.97% |
