May 12 Market Close: GovCon Index Closes Down, US Markets See Slight Losses

GovConIndexDOWNThe GovCon Index declined for the second consecutive trading session Tuesday with a loss of 0.421 points to 73.488.

Gains in Treasury bonds and energy shares helped offset losses in U.S. markets earlier in a day that saw raw material stocks decline, according to Bloomberg.

Bloomberg reports investors believe the Federal Reserve will not raise interest rates until later this year in an effort to let the economic recovery take shape.

The Dow Jones Industrial Average dipped 36.94 points to 18, 068.23, the S&P 500 composite index fell 6.21 points to 2, 099.12 and the NASDAQ composite index declined 17.38 points to 2, 976.19.

Top Percentage Gainers

  Company   Stock Price   $ Change   % Change
  Serco Inc.   2.212   0.154   7.483%
  Health Net   58.96   0.90   1.55%
  ICF International   35.31   0.27   0.77%
  McKesson   229.55   1.01   0.44%
  Raytheon   107.08   0.33   0.31%

Market Summary

  Advancing Issues     8 (26.66%)
  Declining Issues   22 (73.00%)
  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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