Author: Ross Wilkers|| Date Published: January 19, 2016
The GovCon Index attempted to turn around sharp losses incurred mid-afternoon Friday during the day’s final trading hour and closed at a gain/loss of 0.086 points to 72.182.
The Index had shown a decline of around 1.1 percent at around 2 p.m. Eastern time before a reversal that started shortly before 3 p.m. as U.S. stocks attempted to shake off continued declines in oil prices and a new economic report out of China.
U.S. stocks showed a positive open and the S&P 500 composite index surged around 1 percent after trading started before a gradual decline during mid-afternoon activity, then started to tread back above the gain line as the closing bell in New York approached.
Crude oil futures in New York settled down 96 cents to $28.46 a barrel, which is the benchmark’s lowest settle since September 2013.
China posted a 6.9-percent growth in gross domestic product for 2015, which CNBC reports is the slowest pace since 1990.
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The GovCon Index attempted to turn around sharp losses incurred mid-afternoon Friday during the day’s final trading hour and closed at a gain/loss of 0.086 points to 72.182.
