The GovCon Index capped its strongest weekly performance of the fourth quarter-to-date with a gain of 0.710 points to 79.650 Friday.
For the week, the Index posted a climb of 5.45 percent on strong volume in the defense sector as investors appear to expect increased activity in that market after the terror attacks in Paris Nov. 13.
Armored and heavy truck maker Navistar International (NYSE: NAV) is the Index’s best performer over the last week at a gain of 9.4 percent, followed by avionics maker Rockwell Collins (NYSE: COL) at 8.8 percent and services provider Computer Sciences Corp. (NYSE: CSC) at 8.1 percent.
Rocket and ammunition manufacturer Orbital ATK (NYSE: OA) and missile maker Raytheon (NYSE: RTN) both climbed 7.5 percent and round out the Index’s top five one-week performers.
Investors also continued to draw confidence from the Federal Reserve‘s October meeting minutes that indicate policymakers believe the U.S. economy is strong enough to handle a raise in short-term interest rates from near-zero, the Wall Street Journal reported.
Top GovCon Index Gainers
|Symbol||Company||$ Current Price||Net Change||% Change|
|Index||Value||Net Change||% Change|
|S&P 500||2, 089.17||+7.93||+0.38%|
|Dow Jones Industrial Average||17, 823.81||+91.06||+0.52%|