August 19 Market Close: GovCon Index, US Stocks Decline as Fed Minutes Go Public

GovConIndexDOWNThe GovCon Index reflected across-the-board declines in U.S. markets Wednesday to record a decline of 0.493 points and close at 76.755.

U.S. stocks recovered some losses incurred during the morning session after the Federal Reserve released its July meeting minutes that said economic conditions to precede an interest rate increase in September have not materialized, according to CNBC.

Fed policymakers believe conditions are approaching that point with improvements in the labor market, CNBC reported in its summary of the minutes.

The Dow Jones Industrial Average fell 0.93 points to 17, 348.73, the S&P 500 composite index declined 17.31 points to 2, 079.61 and the NASDAQ composite index lost 40.29 points to 5, 019.05.

Top Percentage Gainers

Company $ Current Price $ Change % Change
ICF International 36.13 +0.68 +1.92%
Cubic Corporation 42.91 +0.71 +1.68%
SAIC 51.77 +0.12 +0.23%
Rockwell Collins 87.45 +0.17 +0.19%
Northrop Grumman 175.62 +0.12 +0.07%

Market Summary

  Advancing Issues    14 (46.66%)
  Declining Issues    16 (53.33%)
  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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