The GovCon Index rebounded on oil price recoveries and investor confidence Friday at a gain of 0.547 points to 69.294 but remain below the 70-point barrier for a second consecutive close.
The Index posted a loss of 2 percent for the week and is down 10.62 percent from the start of the year.
CSRA‘s (NYSE: CSRA) third quarter earnings statement from Wednesday continued to spur buys of its stock as the Falls Church, Virginia-based federal technology services contractor jumped 4 percent Friday and shares have spiked 14.83 percent over two days.
U.S. stocks ended their five-day stretch of declines as crude oil futures in New York jumped 12 percent to $29.44 a barrel and brent in London gained 11 percent to $33.23, according to Bloomberg.
Investors gauged data that showed retail sales increased in January and also snapped up bank stocks to drive that sector’s largest rally since November 2011, Bloomberg reported.
Top GovCon Index Gainers
|Symbol||Company||$ Current Price||Net Change||% Change|
*Also listed in the S&P 500 composite index
|Advancing GovCon Index Issues||25|
|Declining GovCon Index Issues||5|
|Unchanged GovCon Index Issues||0|
|Index||Value||Net Change||% Change|
|S&P 500||1, 864.77||+35.69||+1.95%|
|Dow Jones Industrial Average||15, 973.84||+313.66||+2.00%|