January 22 Market Close: GovCon Index Sets Record High, Traders Welcome ECB Stimulus Plan

GovConIndexUPThe GovCon Index set a new record-high Thursday with a gain of 1.134 points — or 1.543 percent — to close at 72.346.

All but two stocks on the index recorded increases in a day that saw the GovCon Index surpass the previous record of 71.722 set on Dec. 26, 2014.

U.S. stocks largely recorded gains Thursday as investors reacted to the European Central Bank’s announcement of a new stimulus plan and positive earnings reports from financial services firms such as KeyCorp and City National, Bloomberg reported.

The Dow Jones Industrial Average rose 1.48 percent to 17, 813.98, the S&P 5oo composite index gained 1.53 percent to 2, 063.15 and the NASDAQ composite index increased 1.78 percent to 4, 750.40.

Top Percentage Gainers

  Company   Stock Price   $ Change   % Change
  Orbital   27.63   1.35   5.14%
  Serco Inc.   2.58   0.083   3.32%
  BAE Systems Inc.   31.38   0.955   3.14%
  Cubic Corp.   52.29   1.40   2.75%
  ATK   128.22   3.40   2.72%

Market Summary

  Advancing Issues   28 (93.33%)
  Declining Issues     2 (6.66%)
  Unchanged Issues     0

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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