May 8 Market Close: GovCon Index, US Markets Rally 1% on Jobs Report

GovConIndexUPThe GovCon Index recovered an entire week’s worth of losses Friday with a rally of 1.046 percent to close at 73.943.

All major U.S. stock indices recorded gains of at least 1 percent after April’s employment report from the Labor Department showed the country added 223, 000 jobs during the month, which the Wall Street Journal said met many expectations of economic analysts.

According to the Journal,  investors believe this report could delay an interest rate increase by the Federal Reserve.

The Dow Jones Industrial Average jumped 1.49 percent to 18, 191.11, the S&P 500 composite index surged 1.35 percent to 2, 116.09 and the NASDAQ composite index rose 1.17 percent to 5, 003.55.

Top Percentage Gainers

  Company   Stock Price   $ Change   % Change
  Serco Inc.   2.15   0.16   7.93%
  BAE Systems Inc.   31.47   0.88   2.88%
  Boeing   145.46   3.97   2.81%
  SAIC   51.41   1.36   2.72%
  Health Net   57.43   1.51   2.70%

Market Summary

  Advancing Issues   25 (83.33%)
  Declining Issues     5 (16.66%)
  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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