December 1 Market Close: GovCon Index Rallies as US Stocks Extend Gains

GovConIndexUPThe GovCon Index recovered some ground from Monday’s decline and adjustment from the addition of CSRA (NYSE: CSRA) to end at a gain of 0.649 points to 78.713 on Tuesday.

U.S. investors appeared to discount the latest Institute for Supply Management index figure that showed a decline to 48.6 in November from October’s 50.1 reading that indicates contraction in the manufacturing sector, the Wall Street Journal reported.

The three major U.S. stock indices held in positive territory for the entire trading day Tuesday and investors continued to anticipate Friday’s payrolls report from the U.S. government as a gauge for when interest rates could go up, according to the Journal.

Other key events investors will watch this week include the European Central Bank’s Thursday meeting and congressional testimony by Federal Reserve Chair Janet Yellen on Wednesday and Thursday.

Top GovCon Index Gainers

Symbol Company $ Current Price Net Change % Change
SECCY Serco Group plc 1.66 +0.22 +15.28%
ICFI ICF International 36.73 +1.10 +3.09%
CACI CACI International 103.31 +3.05 +3.04%
EGL Engility Holdings 35.57 +0.97 +2.80%
HII Huntington Ingalls Industries 133.75 +2.83 +2.16%

Market Summary

Advancing Issues 24
Declining Issues 6
Unchanged Issues 0
Index Value Net Change % Change
GovCon Index 78.713 +0.649 +0.831%
S&P 500 2, 102.63 +22.22 +1.07%
Dow Jones Industrial Average 17, 888.35 +168.43 +0.95%
NASDAQ 5, 156.31 +47.64 +0.93%

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