Hello, Guest!

December 11 Market Close: GovCon Index, US Stocks Plummet on Oil & Fed Jitters

GovConIndexDOWNThe GovCon Index failed to sustain its rebound and mirrored sell-offs in the larger U.S. market Friday with a loss of 1.288 percent to 75.751.

For the week, the Index recorded a decline of 3.236 percent but still holds in positive for the fourth quarter-to-date at a gain of 11.643 percent.

CSRA (NYSE: CSRA), the federal technology services contractor launched Nov. 30, was the Index’s only gainer at 1.33 percent to $28.92 with Serco Group (U.S. over-the-counter) unchanged at $1.63 and all other 28 stocks down.

Crude oil futures in New York settled down 3.1 percent to $35.62 a barrel and at one point reached a new low from February 2009 to send the S&P 500 energy sector down 3 percent, according to CNBC.

U.S. investors also looked at the International Energy Agency’s forecast that the global oil market could see more supply next year in a saturated market and are continuing to anticipate the Federal Reserve‘s meeting next week on whether to raise interest rates as many traders expect, CNBC said.

Market Summary

Advancing Issues 1
Declining Issues 28
Unchanged Issues 1
Index Value Net Change % Change
GovCon Index 75.751 -1.219 -1.584%
S&P 500 2, 012.37 -39.86 -1.94%
Dow Jones Industrial Average 17, 265.21 -309.54 -1.76%
NASDAQ 4, 933.46 -111.71 -2.21%

Video of the Day

Related Articles