Hello, Guest!
  • Saturday, April 20, 2024

March 2 Market Close: GovCon Index Marginally Up on February Payroll Report, Rate Hike Odds Rise


GovConIndexUPThe GovCon Index edged higher Wednesday with a gain of 0.300 points to 73.224 as the three major U.S. stock indices also closed narrowly up on new data investors welcomed as showing slight improvement in the U.S. economy.

The latest National Employment Report from payroll processing services company ADP and Moody’s Analytics said private businesses in the U.S. added 214, 000 jobs in February, a number Reuters reported surpassed economists’ expectations of 190, 000 new positions.

According to Bloomberg, traders have priced in a 40-percent chance of a rate hike in June compared to the 26-percent odds posted last week and have the probability of a December increase at 68 percent, up from 42 percent last Wednesday.

Energy stocks and financial shares were the top gainers among sectors in the S&P 500 composite index, which rose 8.1 points, or 0.41 percent.

Top GovCon Index Gainers

Symbol Company $ Current Price Net Change % Change
I Intelsat 1.88 0.38 25.33%
NAV Navistar International 9.27 0.43 4.86%
OA Orbital ATK 84.69 3.78 4.85%
EGL Engility Holdings 16.02 0.64 4.16%
CACI CACI International 99.23 2.26 2.33%

Market Summary

Advancing GovCon Index Issues 19
Declining GovCon Index Issues 11
Unchanged GovCon Index Issues 0
Index Value Net Change % Change
GovCon Index 73.224 +0.300 +0.411%
S&P 500 1, 986.45 +8.10 +0.41%
Dow Jones Industrial Average 16, 899.08 +34.24 +0.20%
NASDAQ 4, 703.42 +13.83 +0.29%

Video of the Day

Related Articles

HP Federal’s Tommy Gardner: Talent, Innovation, Supply Chain Security Key to Drive Economy Press Releases

HP Federal’s Tommy Gardner: Talent, Innovation, Supply Chain Security Key to Drive Economy

TYSONS CORNER, VA, June 3, 2021 — HP Federal Chief Technology Officer Tommy Gardner said recommendations from the Council of Competitiveness for the U.S. government to build a technical talent base, increase product sustainability and secure the domestic supply chain are intended to spur innovation across the economy, ExecutiveBiz reported May 18. “Developing technical talent,

Unisys Index Analyzes COVID-19 Impact on Security, Economy; Mathew Newfield Quoted News

Unisys Index Analyzes COVID-19 Impact on Security, Economy; Mathew Newfield Quoted

Unisys (NYSE: UIS) has conducted a new Unisys Security Index, analyzing the effects of remote work and critical information as an effect of the COVID-19 pandemic.

U.S. Adds 211,000 jobs in April; Unemployment Dips to 4.4 Percent News

U.S. Adds 211,000 jobs in April; Unemployment Dips to 4.4 Percent

Employment rates in April rebounded better than expected, as employers added a solid 211,000 jobs. Unemployment dipped to 4.4 percent, its lowest rate in a decade, the Labor Department said Friday. The market added an average of 185,000 jobs a month this year, matching last year’s pace, reports CBS. Hiring was strongest in lower-paying industries  and hotels, restaurants, casinos