September 29 Market Close: GovCon Index Closes Up, Remains in Correction After Volatile Day

GovConIndexUPThe GovCon Index regained some ground Tuesday with a gain of 0.244 points to 69.099 on a volatile day for U.S. markets as stocks attempted to reach stability.

The Index is down 10.41 percent from its most recent high on July 16 to remain in correction territory and all three major U.S. stock indices are also more than 10 percent down from their 52-week highs.

U.S. stocks started to decline after 2:00 p.m. Eastern time after gains in the morning session and the Dow Jones Industrial Average and S&P composite index barely held in positive territory at the close.

Biotechnology shares continued to drag on the NASDAQ composite index and investors looked to commodities for relief from choppy trading activity, according to CNBC.

Crude oil climbed 2 percent to more than $45 a barrel and brent settled above $48, CNBC reported.

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

Top GovCon Index Gainers

Company $ Current Price $ Change % Change
AECOM 26.80 +0.58 +2.21%
Serco Group 1.555 +0.031 +2.034%
Huntington Ingalls Industries 105.35 +1.37 +1.32%
Harris Corp. 71.07 +0.79 +1.12%
Lockheed Martin 202.47 +2.25 +1.12%

Market Summary

Advancing Issues 18
Declining Issues 12
Unchanged Issues 0
Index Value Net Change % Change
GovCon Index 69.099 +0.244 +0.354%
S&P 500 1, 884.09 +2.32 +0.12%
Dow Jones Industrial Average 16, 049.13 +47.24 +0.30%
NASDAQ 4, 517.32 -26.63 -0.59%

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