The GovCon Index deepened its losses Wednesday with a decline of 0.462 points to 70.902, a figure 8.08 percent below its three-month high of 77.134 from the July 16 close.
The Dow Jones Industrial Average remains in correction territory while the S&P 500 and NASDAQ composite indices are within 10 percent of their 52-week highs.
U.S. investors reacted to the release of the preliminary China manufacturing purchasing managers’ index for September that showed a reading of 47.0 for September, which CNBC reports is the lowest figure in six-and-a-half years and well below analysts’ expectations.
Materials stocks declined more than 1.5 percent and worries over the Federal Reserve‘s decision to hold interest rates at near-zero levels continued to hold over U.S. markets.
Executive Mosaic’s GovCon Index tracks 30 large, publicly-traded government contracting companies.
Top GovCon Index Gainers
| Company | $ Current Price | $ Change | % Change |
|---|---|---|---|
| Health Net | 65.66 | +0.75 | +1.16% |
| Raytheon | 104.77 | +1.12 | +1.08% |
| Maximus | 62.20 | +0.52 | +0.84% |
| Harris Corp. | 72.45 | +0.17 | +0.24% |
Market Summary
| Advancing Issues | 4 |
| Declining Issues | 24 |
| Unchanged Issues | 2 |
| Index | Value | Net Change | % Change |
|---|---|---|---|
| GovCon Index | 70.902 | -0.462 | -0.647% |
| S&P 500 | 1, 938.76 | -3.98 | -0.20% |
| Dow Jones Industrial Average | 16, 279.89 | -50.58 | -0.31% |
| NASDAQ | 4, 752.74 | -3.98 | -0.08% |
