The GovCon Index declined 0.091 points to 73.466 and at one point before the Fed’s announcement sat at a gain of nearly 0.8 percent with the other indices up 1 percent prior to the central bank’s statement.
The Dow Jones Industrial Average and S&P 500 composite index both incurred slight losses and the NASDAQ composite index closed with a nominal gain.
U.S. investors examined the Fed’s statement that it remained concern about economic events outside the U.S. and Chair Janet Yellen’s press conference to explain the decision, Bloomberg reported.
Yellen said the Fed would seek a gradual raise of interest rates and was more concentrated on how it would tighten monetary policy rather than the timing of a rate hike,  according to Bloomberg.
Executive Mosaic’s GovCon Index tracks 30 large publicly-traded government contracting companies.
Top GovCon Index Gainers
Company | $ Current Price | $ Change | % Change |
---|---|---|---|
Serco Group | 1.72 | +0.14 | +8.86% |
Booz Allen Hamilton | 27.72 | +0.40 | +1.46% |
SAIC | 43.10 | +0.59 | +1.39% |
ManTech International | 27.35 | +0.31 | +1.15% |
Cubic Corp. | 42.43 | +0.41 | +0.98% |
Market Summary
Advancing Issues | 16 |
Declining Issues | 14 |
Unchanged Issues | 0 |
Index | Value | Net Change | % Change |
---|---|---|---|
GovCon Index | 73.465 | -0.091 | -0.124% |
S&P 500 | 1, 990.20 | -5.11 | -0.26% |
Dow Jones Industrial Average | 16, 674.74 | -65.21 | -0.39% |
NASDAQ | 4, 893.95 | +4.71 | +0.10% |