August 27 Market Close: GovCon Index, US Stocks Extend Rebound on GDP & Job Data

GovConIndexUPThe GovCon Index extended its recovery to a second consecutive day on Thursday with a gain of 1.326 percent to 72.815.

Overall, the Index has regained 4.59 percent of its losses from the recent six-day stretch of declines that mirrored larger U.S. market downturns.

Economic data that showed U.S. gross domestic product expanded in the second quarter at a pace beyond the Bureau of Economic Analysis‘ initial estimate and jobless claims fell last week helped spur the continued rebound in U.S. stocks.

Oil prices climbed 10 percent to $42.56 a barrel in New York and the S&P 500 energy sector climbed 4.7 percent in Thursday’s trading session, according to the Wall Street Journal.

The Dow Jones Industrial Average gained 2.27 percent to 16, 654.77 and the NASDAQ composite index rose 2.45 percent to 4, 812.71 — closing figures that see both indices now out correction territory.

The S&P 500 composite index jumped 2.43 percent to 1, 987.66.

Top Percentage Gainers

Company $ Current Price $ Change % Change
Textron 39.41 +1.41 +3.71%
Huntington Ingalls Industries 113.13 +3.74 +3.42%
CGI Group 37.56 +1.17 +3.22%
Orbital ATK 75.88 +2.15 +2.92%
AECOM 26.87 +0.72 +2.75%

Market Summary

  Advancing Issues    24 (80.00%)
  Declining Issues      4 (13.33%)
  Unchanged Issues      2 (6.66%)

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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