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December 17 Market Close: GovCon Index Snaps 3-Day Skid, Fed Sends Interest Rate Signal

GovConIndexThe GovCon Index ended its stretch of three consecutive days of losses with a gain of 1.042 points to close at 68.453 on Wednesday.

Investors reacted to the Federal Reserve’s addition of the phrase “considerable time” in its latest policy statement and comments from Fed Chair Janet Yellen that the central bank will likely not raise interest rates for the next several meetings,  according to CNBC.

The Dow Jones Industrial Average gained 288 points to close at 17, 356.87, the S&P 500 composite index rose 40.14 points — or 2.03 percent — to close at 2, 012.88 and the NASDAQ composite index increased 96.48 points — or 2.12 percent — to close at 4, 644.31.

Top Percentage Gainers

Company Stock Price $ Change % Change
 Orbital  23.95  1.65  7.40%
 Maximus  53.53  2.53  4.96%
 ATK  106.46  4.70  4.62%
 Navistar  30.34  1.24  4.26%
 ICF International  41.36  1.38  3.45%

Market Summary

Advancing Issues  27 (90.00%)
Declining Issues   3  (10.00%)
Unchanged Issues   0  (0.00%)

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

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