January 30 Market Close: GovCon Index Loses 2%, GDP Data Drags Stocks

GovConIndexDOWNThe GovCon Index mirrored the declines of U.S. stocks Friday with a fall of 1.939 percent — or 1.346 points — to 70.735.

Four out of 30 index companies recorded stock price increases: CGI Group (NYSE: GIB), L-3 Communications (NYSE: LLL), ManTech International (NASDAQ: MANT) and Serco Inc.

A Commerce Department report that said gross domestic product grew at a 2.6 percent annualized rate in the third quarter offset gains in the energy sector after crude oil prices increased 6 percent, Bloomberg reports.

The Dow Jones Industrial Average plunged 1.45 percent to 17, 161.95, the S&P 500 composite index declined 1.3 percent to 1, 994.99 and the NASDAQ composite index fell 1.03 percent to 4, 635.24.

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

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