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August 31 Market Close: GovCon Index, US Stocks Fall on Interest Rate Timing Concerns

GovConIndexDOWNThe GovCon Index ended the most turbulent month in its nearly one year of existence Monday with a decline of 1.174 percent to 72.126.

The Index has tumbled 5.18 percent from its July 31 close of 76.069 and is down 6.6 percent from its high of 77.223 from Aug. 17.

U.S. investors continue to show concern over China’s economic picture that country’s decision to devalue its currency and are worried the Federal Reserve will raise interests rates in August, according to the Wall Street Journal.

Unemployment numbers for August are due Friday and that could give investors more ideas on when an interest rate hike could occur, the Journal reported.

Executive Mosaic’s GovCon Index tracks 30 large,  publicly-traded government contracting firms.

Top Percentage Gainers

Company $ Current Price $ Change % Change
Serco Group 1.82 +0.05 +2.88%
AECOM 27.50 +0.37 +1.36%
Navistar International 17.84 +0.16 +0.90%
Intelsat 9.67 +0.07 +0.73%
ICF International 34.21 +0.17 +0.50%

Market Summary

  Advancing Issues    18 (60.00%)
  Declining Issues      9 (30.00%)
  Unchanged Issues      3 (10.00%)
Index Price Point Change % Change
S&P 500 1, 972.18 -16.69 -0.84%
Dow Jones Industrial Average 16, 528.03 -114.98 -0.69%
NASDAQ 4, 776.51 -51.82 -1.07%
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