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January 28 Market Close: GovCon Index Retreats, Fed Holds to ‘Patient’ Interest Rate Line


GovConIndexDOWNThe GovCon Index extended its current stretch of declines to a third straight day with a loss of 0.306 points — or 0.432 percent — to close at 71.223 on Wednesday.

Boeing (NYSE: BA) recorded the largest gain of any index member — a nearly 5-percent increase — after the company said revenue for its 2014 fiscal year set an all-time high.

Investors weighed the Federal Reserve‘s statement that it would remain “patient” on the possibility of an interest rate hike and declines in Greek bonds and stocks, according to the Wall Street Journal.

The Dow Jones Industrial Average fell 1.13 percent to 17, 191.37, the S&P 500 composite index dipped 1.35 percent to 2, 002.16 and the NASDAQ composite index lost 0.93 percent to 4, 637.99.

Top Percentage Gainers

  Company  Stock Price  $ Change  % Change
  Boeing  139.64  7.16  5.40%
  CGI Group  38.68  0.85  2.25%
  Textron  41.99  0.62  1.50%
  ManTech International  31.80  0.28  0.89%
  Leidos Holdings  42.63  0.19  0.45%

Market Summary

  Advancing Issues    8 (26.66%)
  Declining Issues  22 (73.33%)
  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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