The GovCon Index fell 1.647 percent to 72.256 with only three companies in positive territory: CGI Group (NYSE: GIB) up 1.06 percent, Cubic Corp. (NYSE: CUB) up 0.61 percent and Leidos (NYSE: LDOS) up 0.44 percent.
The Index ended the week 0.61 percent down from its Sept. 11 close of 72.70 and has declined 6.28 percent from from its Aug. 18 close of 77.098.
According to the Wall Street Journal, U.S. investors are wary of the Fed’s statement that the central bank remains concerned about global economic growth prospects and Chair Janet Yellen’s comment that policy makers would take some time to evaluate market volatility.
Many traders pointed to China as a particular concern for the Fed, the Journal reported.
Executive Mosaic’s GovCon Index tracks 30 large, publicly-traded government contracting companies.
Market Summary
Advancing Issues | 3 |
Declining Issues | 27 |
Unchanged Issues | 0 |
Index | Value | Net Change | % Change |
---|---|---|---|
GovCon Index | 72.256 | –1.210 | –1.647% |
S&P 500 | 1, 958.07 | -32.14 | -1.61% |
Dow Jones Industrial Average | 16, 384.72 | -290.02 | -1.74% |
NASDAQ | 4, 827.23 | -66.72 | -1.36% |