The GovCon Index recovered from early losses Friday after the release of September’s jobs report to record a gain of 0.689 points and close at 70.664.
U.S. stock markets turned sharply negative after the open and remained down for the morning session, then rode a spike in crude oil prices to gains, the Wall Street Journal reported.
Crude oil jumped 2 percent to $45.65 per barrel in New York and brent oil rose 1.11 percent to 48.22 per barrel.
The Labor Department said before the open that businesses added 142, 000 jobs in September, below a 200, 000 estimate the Journal cited through its survey of economists, and the unemployment rate remained unchanged 5.1 percent.
The Journal reports investors and traders initially thought the low job growth numbers signaled continued effects on the U.S. from economic turmoil in China.
Top GovCon Index Gainers
|Company||$ Current Price||$ Change||% Change|
|Index||Value||Net Change||% Change|
|S&P 500||1, 951.35||+27.53||+1.43%|
|Dow Jones Industrial Average||16, 472.37||+200.36||+1.23%|