The GovCon Index extended its stretch of positive movement into a third full trading session Wednesday with a gain of 0.204 points to 74.334 as U.S. investors continued to gauge Tuesday’s comments from Federal Reserve Chair Janet Yellen on a potentially slower interest rate hike path for the central bank.
Falls Church, Virginia-based CSRA (NYSE: CSRA) rose 2.37 percent to $27.19 after Zack’s Investment Research upgraded the company’s shares from “hold” to “buy” in a note to investors.
Zack’s currently has the price objective for CSRA at $30 per share.
According to Bloomberg, futures traders have priced in near-zero percent odds of a rate increase at the Fed’s April meeting and 47 percent for a hike by November on Yellen’s speech that indicated the central bank seeks a “cautious” approach to monetary policy in light of a slowing global economy.
Top GovCon Index Gainers
|Symbol||Company||$ Current Price||Net Change||% Change|
|NOC||Northrop Grumman *||198.73||+2.05||+1.04%|
* Also listed on the S&P 500 composite index
|Advancing GovCon Index Issues||20|
|Declining GovCon Index Issues||9|
|Unchanged GovCon Index Issues||1|
|Index||Value||Net Change||% Change|
|S&P 500||2, 063.95||+8.94||+0.44%|
|Dow Jones Industrial Average||17, 716.66||+83.55||+0.47%|