January 29 Market Close: GovCon Index Rallies 1%, Jobless Claims Dip

GovConIndexUPThe GovCon Index recovered some ground from a three-day stretch of losses Thursday with a gain of 0.868 points — or 1.191% percent — to close at 72.081.

Boeing (NYSE: BA) was the index’s largest gainer at 5.8 percent or a second straight day and Northrop Grumman‘s (NYSE: NOC) stock jumped 2.16 percent after the company said profit and revenue increased in its fourth quarter.

ATK (NYSE: ATK) also saw its stock price grow after the company reported higher third-quarter revenue and profit for its aerospace and defense groups in the company’s final earnings release before those groups merge with Orbital Sciences (NYSE: ORB).

Data from the Labor Department that showed a drop in jobless claims last week and gains by blue-chip stocks helped to drive U.S. stocks up, CNBC reported.

The Dow Jones Industrial Average increased 1.31 percent to 17, 416.85, the S&P 500 composite rose 19.09 points to 2, 021.25 and the NASDAQ composite index gained 0.98 percent to 4, 683.41.

Top Percentage Gainers

  Company   Stock Price   $ Change   % Change
  Boeing   147.78   8.14   5.83%
  ATK   132.71   5.04   3.95%
  Northrop Grumman   157.93   5.77   3.79%
  Cubic Corp.   52.97   1.50   2.91%
  Navistar   30.34   0.84   2.85%

Market Summary

  Advancing Issues    18 (60.00%)
  Declining Issues    12 (40.00%)
  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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