October 2 Market Close: GovCon Index, US Stocks Swing Positive After AM Losses to Close Up

GovConIndexUPThe 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.

LinkedIn Follow

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
Health Net 61.58 +1.81 +3.03%
Intelsat 6.57 +0.15 +2.34%
AECOM 27.91 +0.60 +2.20%
CGI Group 36.76 +0.79 +2.20%
Honeywell International 96.54 +1.83 +1.93%

Market Summary

Advancing Issues 25
Declining Issues 5
Unchanged Issues 1
Index Value Net Change % Change
GovCon Index 70.664 +0.689 +0.985%
S&P 500 1, 951.35 +27.53 +1.43%
Dow Jones Industrial Average 16, 472.37 +200.36 +1.23%
NASDAQ 4, 707.77 +80.69 +1.74%

Video of the Day

GovCon Wire Logo

Sign Up Now! GovCon Wire provides you with Daily Updates and News Briefings about Financial Report

Related Articles