The GovCon Index failed to hold onto its gains in Friday morning’s trading session as it closed down 0.298 points to 70.480 and record its second consecutive weekly loss.
The Index was up 0.8 percent at around 10:30 a.m. Eastern time and mirrored similar activity in the S&P 500 composite index, which climbed as much as 1.1 percent at 1 p.m. and closed barely in negative territory.
U.S. investors initially drew confidence from Federal Reserve Chair Janet Yellen’s comments Thursday that the central bank remains intent to increase interest rates this year if any economic “surprises” do not arise, Bloomberg reports.
Biotechnology and healthcare shares were among the biggest decliners Friday, according to Bloomberg.
Top GovCon Index Gainers
|Company||$ Current Price||$ Change||% Change|
|Computer Sciences Corp.||61.31||+0.82||+1.36%|
|Index||Value||Net Change||% Change|
|S&P 500||1, 931.35||-0.89||-0.89%|
|Dow Jones Industrial Average||16, 314.60||+113.28||+0.70%|