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March 9 Market Close: GovCon Index, US Markets Rebound From Friday Declines

GovConIndexUPThe GovCon Index recovered much of its losses from Friday with a Monday gain of 0.532 points — or 0.766 percent — to close at 68.929.

Maximus‘ (NYSE: MMS) share price jumped nearly 3 percent after the company said it would purchase technology services contractor Acentia for $300 million cash.

U.S. investors reconsidered economic data released Friday on the U.S. nonfarm jobs market and believe it is more likely the Federal Reserve will raise interest rates in June, CNBC reports.

Europe’s central bank started its bond-buying program on Monday and plans to repurchase $66.3 billion in bonds per month through that initiative, according to the report.

The Dow Jones Industrial Average rose 138.94 points to 17, 995.72, the S&P 500 composite index climbed 8.17 points to 2, 079.43 and the NASDAQ composite index gained 15.07 points to 4, 942.44.

Top Percentage Gainers

  Company   Stock Price   $ Change   % Change
  Maximus   61.98   1.72   2.85%
  SAIC   53.31   0.96   1.83%
  Huntington Ingalls   139.29   2.22   1.62%
  Cubic Corp.   52.17   0.82   1.60%
  ICF International   41.79   0.65   1.58%
  Raytheon   106.88   1.66   1.58%

Market Summary

  Advancing Issues    21 (70.00%)
  Declining Issues      9 (30.00%)
  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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