October 6 Market Close: GovCon Index Dips as Oil Rises, Dollar Weakens

GovConIndexDOWNThe GovCon Index struggled for gains Tuesday after a positive open and closed at a decline of 0.357 points to 71.808.

U.S. stocks declined after five days of positivity as biotechnology shares declined and investors also responded to the International Monetary Fund’s statement that the organization remain concerned over economies in developing nations, according to Bloomberg.

Oil prices in New York and London climbed for a third consecutive day and currencies such as the Euro, Australia’s dollar and Japan’s yen rose against the U.S. dollar.

Investors believe a weaker U.S. dollar could help multinational companies in their third quarter earnings as the financial reporting season approaches, Bloomberg reported.

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

Top GovCon Index Gainers

Company $ Current Price $ Change % Change
Intelsat 7.38 +0.48 +6.96%
Orbital ATK 76.99 +1.50 +1.99%
AECOM 29.39 +0.37 +1.27%
Navistar International 14.62 +0.17 +1.18%
ManTech International 26.40 +0.28 +1.07%

Market Summary

Advancing Issues 14
Declining Issues 15
Unchanged Issues 1
Index Value Net Change % Change
GovCon Index 71.808 -0.357 -0.495%
S&P 500 1, 979.92 -7.13 -0.36%
Dow Jones Industrial Average 16, 790.19 +13.76 +0.08%
NASDAQ 4, 748.36 -32.90 -0.69%

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