December 12 Market Close: GovCon Index Ends Week With Steep Slide

GovConIndexThe GovCon Index erased two days of gains to end the week as it declined 2.414 percent — or 1.600 points — to close at 67.878 Friday.

All companies in the index recorded losses.

A report that showed a slowdown in Chinese factory production weighed on markets around the world and oil shares continued to fall as the price of crude oil-per-barrel on the New York Mercantile exchange slid to its lowest figure in five years,  according to Bloomberg.

The Dow Jones Industrial Average lost 315.51 points — or 1.79 percent — to close at 17, 280.83, the S&P 500 composite index declined 33 points — or 1.62 percent — to close at 2, 002.33 and the NASDAQ composite index fell 54.57 points — or 1.16 percent — to close at 4, 653.60.

The Executive Mosaic GovCon Index is a composite index that tracks 30 of the largest publicly-traded Government Contracting (GovCon) firms.

Check Also


SAIC Awarded TSA Test & Evaluation Support BPA

Science Applications International Corp. (NYSE: SAIC) has been awarded a potential $40M blanket purchase agreement for operational test and evaluation services to the Transportation Security Administration, according to an award notice posted Thursday.

US Air Force

Air Force Selects Boeing, Lockheed, Raytheon Technologies for Hypersonic Cruise Missile Tech Design Program

The U.S. Air Force has indicated its intent to solicit design proposals from Boeing (NYSE: BA), Lockheed Martin (NYSE: LMT) and Raytheon Technologies (NYSE: RTX) for a hypersonic cruise missile technology that can be launched from a fighter or a bomber aircraft.