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 |
|---|---|---|---|
| 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
| Â Advancing Issues | Â Â 29 |
| Â Declining Issues | Â Â Â 1 |
| Â Unchanged Issues | Â Â Â 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% |
