May 7 Market Close: GovCon Index Stays Level, Jobs Report to Loom Over Markets

GovConIndexUPThe GovCon Index ended Thursday’s trading session with a nominal gain of 0.015 points to 73.162 as U.S. stocks recorded slight gains ahead of Friday’s payrolls report.

Richard Sichel, chief investment officer at Philadelphia Trust Co., told Bloomberg the jobs data from the Labor Department could be “even more newsworthy than usual” in light of other previous economic figures that indicate contraction in the U.S. economy.

Federal Reserve leaders will watch the jobs report to determine when the central bank will raise interest rates, Bloomberg reports.

The Dow Jones Industrial Average gained 82.08 points to 17, 924.06, the S&P 500 composite index rose 7.85 points to 2, 088.00 and the NASDAQ composite index climbed 25.90 points to 4, 945.54.

Top Percentage Gainers

  Company   Stock Price   $ Change   % Change
  Maximus   65.55   2.56   4.06%
  Leidos Holdings   42.19   0.88   2.13%
  AECOM Technology   31.60   0.46   1.48%
  Health Net   55.92   0.67   1.21%
  Intelsat   12.22   0.12   0.99%

Market Summary

  Advancing Issues   24 (80.00%)
  Declining Issues     6 (20.00%)
  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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