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August 28 Market Close: GovCon Index Closes in Green to End Volatile Week

GovConIndexUPThe GovCon Index closed Friday up 0.158 points to 72.983 on a relatively quiet day for U.S. markets compared to the volatility from the prior four days.

With Friday’s close, the Index ended the week with a nominal gain of 0.012 points from its Aug. 21 close of 72.971.

The Index is currently down 5.56 percent from its most recent high of 77.285 on Aug. 17 and 4.87 percent up from its most recent low of 69.589 on Tuesday.

The Index suffered its worst ever one-day drop Monday at 3.376 percent and the total decline between Aug. 17 and Tuesday Aug. 25 was 9.9 percent — one-tenth a percent above correction.

According to the Wall Street Journal, traders and investors expect heightened activity to continue in global markets due to concerns over China’s economic picture and uncertainty of when the Federal Reserve could increase interest rates for the first time in almost 10 years.

The Dow Jones Industrial Average fell 11.76 points to 16, 643.01, the S&P 500 composite index added 1.21 points to 1, 988.87 and the NASDAQ composite index gained 15.62 points to 4, 828.33.

Top Percentage Gainers

Company $ Current Price $ Change % Change
Cubic Corp. 42.57 +2.00 +4.93%
Intelsat 9.60 +0.31 +3.34%
Navistar International 17.68 +0.38 +2.20%
ManTech International 27.46 +0.31 +1.14%
McKesson 200.80 +2.21 +1.11%

Market Summary

  Advancing Issues    18 (60.00%)
  Declining Issues      9 (30.00%)
  Unchanged Issues      3 (10.00%)

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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