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October 14 Market Close: GovCon Index Falls 1%, Wal-Mart Decline Sinks US Markets

GovConIndexDOWNThe GovCon Index extended its declines to a second consecutive day Wednesday with a loss of 1.460 percent to 72.637.

U.S. stocks fell sharply after initial gains in the day’s first 30 minutes of activity as investors reacted to Wal-Mart’s prediction that its profit would fall during the next fiscal year and data that showed producer prices in China declined at its sharpest level since the 2007-08 financial crisis, according to Bloomberg.

Investors peg the odds of a Federal Reserve move to raise interest rates this year at around 30 percent, down from the more than 90-percent chance priced in from January, Bloomberg reported.

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

Top GovCon Index Gainers

Company $ Current Price $ Change % Change
Serco Group plc 1.54 +0.02 +1.12%
Navistar International 15.04 +0.10 +0.67%
SAIC 42.22 +0.27 +0.64%
Harris Corporation 76.03 +0.46 +0.61%
CGI Group 37.00 +0.05 +0.14%

Market Summary

Advancing Issues 6
Declining Issues 24
Unchanged Issues 0
Index Value Net Change % Change
GovCon Index 72.637 -1.076 -1.460%
S&P 500 1, 994.24 -9.45 -0.47%
Dow Jones Industrial Average 16.924.75 -157.14 -0.92%
NASDAQ 4, 782.85 -13.76 -0.29%
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