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June 17 Market Close: GovCon Index, US Stocks Climb After Fed Rate Hike Comments

GovConIndexUPThe GovCon Index continued its climb from Monday’s large decline in Wednesday’s trading session to close up 0.190 points and end at 76.438.

Investors reacted positively to comments from Federal Reserve officials that they are holding to their forecast of an interest rate hike by the end of the year as Fed Chairwoman Janet Yellen wants more evidence of economic growth, according to Bloomberg.

The Dow Jones Industrial Average gained 31.26 points to 17, 935.74, the S&P 500 composite index rose 4.15 points to 2, 100.44 and the NASDAQ composite index rose 9.33 points to 5, 064.88.

Top Percentage Gainers

  Company   $ Stock Price   $ Change   % Change
  Serco Group   1.87   0.03   1.63%
  Maximus   64.36   0.59   0.93%
  General Dynamics   144.50   1.27   0.89%
  Raytheon   100.66   0.87   0.87%
  Northrop Grumman   162.87   1.38   0.85%

Market Summary

  Advancing Issues    19 (63.33%)
  Declining Issues    11 (36.66%)
  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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