The GovCon Index started the month of May with a rebound from two days of losses to close Friday up 0.680 points — or 0.910 percent — and end at 74.060.
Gains in the biotechnology sector from the previous day’s losses and higher Treasury yields helped U.S. stocks to recover from Thursday’s sell-off, according to CNBC.
Investors also reacted positively to financial reports from car makers such as General Motors (NYSE: GM) and Ford (NYSE: F), CNBC reports.
The Dow Jones Industrial Average jumped 1.03 percent to 18, 024.06, the S&P 500 composite index climbed 1.09 percent to 22.78 and the NASDAQ composite index rose 1.29 percent to 5, 005.39.
Top Percentage Gainers
|Company||Stock Price||$ Change||% Change|
|Booz Allen Hamilton||27.95||0.45||1.64%|
|Advancing Issues||23 (76.66%)|
|Declining Issues||7 (23.33%)|
Executive Mosaic‘s GovCon Index is a composite index that tracks 30 of the largest publicly-traded Government Contracting (GovCon) firms.