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August 26 Market Close: GovCon Index Up 3%, 6-Day Decline Streak Over

GovConIndexUPA six-day stretch of consecutive declines came to an end for the GovCon Index Wednesday as it recorded a gain of 3.208 percent to 71.862.

Non-Index company Oshkosh Corp. (NYSE: OSK) closed up 6.67 percent a day after the Army announced the Wisconsin-based military vehicle maker beat Lockheed Martin (NYSE: LMT) and AM General for the Joint Light Tactical Vehicle program to replace the Humvee.

Technology companies were among the biggest gainers in the larger U.S. stock rally that saw all three major indices rise close to 4 percent and every sector in the S&P 500 composite index climb, Bloomberg reports.

Investors also drew confidence from a report that showed capital goods orders climbed in July at its highest rate in a year and durable goods orders increased 2 percent for the month.

Traders continue to peg the odds of a September interest rate increase at around 25 percent after a previous figure of 50 percent before China’s currency devaluation, according to Bloomberg.

The Dow Jones Industrial Average climbed 3.95 percent to 16, 285.51, the S&P 500 composite index rose 3.90 percent to 1, 940.51 and the Nasdaq composite index surged 4.24 percent to 4, 697.52.

CNBC reports the S&P 500 closed out of correction territory with its gain.

Top Percentage Gainers

Company $ Current Price $ Change % Change
McKesson 197.89 +9.45 +5.01%
CGI Group 36.39 +1.71 +4.93%
Huntington Ingalls Industries 109.39 +4.92 +4.71%
Honeywell International 97.83 +3.90 +4.15%
Booz Allen Hamilton 26.63 +1.06 +4.15%

Market Summary

  Advancing Issues    29 (96.66%)
  Declining Issues      1 (3.33%)
  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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