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September 9 Market Close: GovCon Index Dips, US Markets Decline in PM Session

GovConIndexDOWNThe GovCon Index closed down 0.686 points to 72.072 on a day that saw continued volatility in U.S. and global markets despite a rise in equities.

All three major U.S. stock indices were up 1 percent at one point in the morning session and receded into negative territory in the 1:00 p.m. Eastern time hour.

Navistar International (NYSE: NAV) led Index gainers at 1.68 percent to $18.20 after the company formally announced an estimated $368.9 million foreign military sales contract with the U.S. Army to build tactical vehicles for Afghanistan.

Non-Index company Aerojet Rocketdyne Holdings surged 9.95 percent to $22.77 after the Wall Street Journal reported the propulsion technology maker was in negotiations to purchase United Launch Alliance from owners Boeing (NYSE: BA) and Lockheed Martin (NYSE: LMT).

Bloomberg reported in its market summary that traders have priced in a 28-percent probability an interest rate increase at the Federal Reserve‘s Sept. 16-17 meeting and a 60-percent chance of a hike at the central bank’s December meeting.

Oil prices declined 3.9 percent in New York to send energy stocks down, according to Bloomberg.

Top Percentage Gainers

Company $ Current Price $ Change % Change
Navistar International 18.20 +0.30 +1.68%
Booz Allen Hamilton 27.22 +0.30 +1.11%
Orbital ATK 77.90 +0.15 +0.19%
AECOM 27.11 +0.05 +0.18%
Engility Holdings 27.31 +0.04 +0.15%

Market Summary

  Advancing Issues    29
  Declining Issues      1
  Unchanged Issues      0
Index Value Net Change % Change
GovCon Index 72.072 -1.778 -2.505%
S&P 500 1, 942.04 -27.37 -1.39%
Dow Jones Industrial Average 16, 253.57 -239.11 -1.45%
NASDAQ 4, 756.53 -55.40 -1.15%
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