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March 16 Market Close: GovCon Index Rises as Dollar, Oil Fall Ahead of Fed Meeting

GovConIndexUPThe GovCon Index started the week off with a rise of 1.66 percent — or 1.166 points — to close at 69.061 on Monday.

Investors will look to see if the Federal Open Market Committee will retain the word “patient” in its next statement scheduled for Wednesday after its two-day March meeting, CNBC reports.

The U.S. dollar index declined 1 percent Monday after a 3-percent gain in the previous week and crude oil prices declined 96 cents to $43.88 per barrel, according to CNBC.

The Dow Jones Industrial Average rallied 1.28 percent to close at 17, 977.29, the S&P 500 composite index rose 27.77 points to 2, 081.17 and the NASDAQ composite index gained 1.19 percent to 4, 929.51.

Top Percentage Gainers

  Company   Stock Price   $ Change   % Change
  Raytheon   109.60   3.08   2.89%
  Healthnet   58.97   1.60   2.79%
  Cubic Corp.   52.08   1.30   2.56%
  Lockheed Martin   202.11   5.00   2.54%
  Maximus   64.18   1.58   2.52%
  Textron   43.88   1.08   2.52%

Market Summary

  Advancing Issues    26 (86.66%)
  Declining Issues      4 (13.66%)
  Unchanged Issues      0

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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