July 10 Market Close: GovCon Index, US Stocks Surge on Investor Hope for Greece Deal

GovConIndexUPThe GovCon Index continued to rally from its Wednesday losses in Friday’s trading session to gain 1.246 percent and close at 75.617.

U.S. stocks also extended their surge to a second consecutive day as investors showed optimism that a new economic proposal from Greece could show progress toward a deal with the country’s creditors, according to the Wall Street Journal.

Investors also reacted to Federal Reserve Chair Janet Yellen’s midday comments in Cleveland that the central bank is holding to its timeline for an increase in short-term interest rates later this year, the Journal reported.

The Dow Jones Industrial Average climbed 1.21 percent to 17, 760.41, the S&P 500 composite index rose 1.23 percent to 2, 076.62 and the NASDAQ composite index surged 1.53 percent to 4, 997.70.

Top Percentage Gainers

  Company   $ Stock Price   $ Change   % Change
  Health Net   69.12   2.32   3.47%
  BAE Systems   29.44   0.86   3.01%
  Booz Allen Hamilton   25.94   0.59   2.33%
  L-3 Communications   120.22   2.63   2.24%
  ManTech International   35.53   0.73   2.10%

Market Summary

  Advancing Issues    27 (90.00%)
  Declining Issues      3 (10.00%)
  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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