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June 18 Market Close: GovCon Index Jumps, Investors Cheer Fed Statement

GovConIndexUPThe GovCon Index more than tripled its gains from the previous two trading days to record a climb Wednesday of 0.712 points and close at 77.150.

U.S. investor confidence grew during Wednesday’s trading session after the Federal Reserve said it thought the economy would be strong enough to handle an interest rate increase this year, according to CNBC.

CNBC said in the morning session were slightly offset after news surfaced that negotiations between Greece and its creditors have stalled as that country is set to default on a $1.7 billion debt repayment to the International Monetary Fund on June 30 unless a short-term funding deal can be reached.

The Dow Jones Industrial Average rose 1 percent to 18, 115.84, the S&P 500 composite index surged 0.99 percent — or 20.79 points — to 2, 121.23 and the NASDAQ composite index climbed 1.34 percent to 5, 132.95.

Top Percentage Gainers

  Company   $ Stock Price   $ Change   % Change
  Intelsat   10.39   0.24   2.36%
  Maximus   65.75   1.39   2.16%
  AECOM   34.13   0.57   1.70%
  ManTech International   29.96   0.45   1.52%
  Serco Group   1.897   0.027   1.444%

Market Summary

  Advancing Issues    28 (93.33%)
  Declining Issues      2 (6.66%)
  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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