May 20 Market Close: GovCon Index, US Stocks Rise After Fed Minutes Release

GovConIndexUPThe GovCon Index closed in positive territory Wednesday with a gain of 0.108 points to 75.543 on a day that saw investors react to the release of the Federal Reserve‘s April meeting minutes.

Fed leaders expressed doubt over the possibility of an interest rate hike by June and U.S. stocks traded after those minutes went public but failed to hold gains, according to the Wall Street Journal.

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Computer Sciences Corp. (NYSE: CSC) closed 2.44 percent up the day after the technology services contractor announced its plan to divide into two separate, publicly-traded companies.

The Dow Jones Industrial Average fell 26.99 points to 18, 285.40, the S&P 500 composite index dipped 1.98 points to 2, 125.85 and the NASDAQ composite index gained 1.71 points to 5, 071.74.

Top Percentage Gainers

  Company   Stock Price   $ Change   % Change
  Engility Holdings   29.12   1.82   6.67%
  Computer Sciences Corp.   69.25   1.59   2.35%
  Huntington Ingalls   122.13   1.64   1.36%
  Intelsat   10.58   0.14   1.34%
  Health Net   61.16   0.60   0.99%

Market Summary

  Advancing Issues    16 (56.66%)
  Declining Issues    14 (43.33%)
  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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