The GovCon Index started the first full week of activity in October with a gain of 2.124 percent to 72.165 Monday as U.S. markets readjusted their outlook on an interest rate hike by the Federal Reserve.
Navistar International (NYSE: NAV) led Index gainers with an 18.73-percent climb to a two-week high of 14.45 on strong volume.
According to the Wall Street Journal, U.S. stocks rose on investor belief that the Fed will delay its move to raise rates from nero-zero levels after last week’s jobs report that missed many economists’ expectations.
Energy is the best-performing sector in the S&P 500 over the last week with a 9.3-percent gain after three months as one of the two worst-performing sectors alongside materials, the Journal reported.
Gains in oil futures and other commodities drove gains in those sectors, according to the Journal.
Executive Mosaic’s GovCon Index tracks 30 large, publicly-traded government contracting companies.
Top GovCon Index Gainers
|Company||$ Current Price||$ Change||% Change|
|Index||Value||Net Change||% Change|
|S&P 500||1, 987.05||+35.69||+1.83%|
|Dow Jones Industrial Average||16, 776.43||+304.06||+1.85%|