The GovCon Index was dragged Monday by the across-the-board selloff in U.S. stocks and closed at a steep decline of 1.288 percent to 78.912.
McLean, Virginia-based Science Applications International Corp. (NYSE: SAIC) was the GCI’s lone gainer at 2.16 percent after the contractor reported first-quarter earnings and revenue above analyst forecasts.
Losses by technology stocks Apple, Facebook and Microsoft weighed on the benchmark U.S. stock indicators such as the S&P 500 composite index.
Investors are anticipating the latest retail sales report due Tuesday and developments from the Federal Reserve‘s two-day meeting Tuesday and Wednesday that could set the stage for a future interest rate hike, according to Reuters.
Market Summary
| Advancing GovCon Index Issues | 1 |
| Declining GovCon Index Issues | 29 |
| Unchanged GovCon Index Issues | 0 |
| Index | Value | Net Change | % Change |
|---|---|---|---|
| GovCon Index | 78.912 | -1.030 | -1.288% |
| S&P 500 | 2, 079.06 | -17.01 | -0.81% |
| Dow Jones Industrial Average | 17, 732.48 | -132.86 | -0.74% |
| NASDAQ | 4, 848.44 | -46.11 | -0.94% |
