The 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|
|Booz Allen Hamilton||27.22||+0.30||+1.11%|
|Index||Value||Net Change||% Change|
|S&P 500||1, 942.04||-27.37||-1.39%|
|Dow Jones Industrial Average||16, 253.57||-239.11||-1.45%|