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December 15 Market Close: GovCon Index, US Stocks Rise as Investors Await Fed’s Interest Rate Call

GovConIndexUPThe GovCon Index rebounded with the larger U.S. stock market Thursday to record a gain of 0.165 points to 75.932 on the last trading day before the Federal Reserve‘s two-day meeting.

Navistar International (NYSE: NAV) led Index gainers at 7.69 percent to $8.82 a day after the armored truck manufacturer hit a 52-week low of $7.90 before a Monday close of $8.19 and Tuesday volume totaled 3.3 million shares compared to the daily average of 1.6 million over three months.

According to Bloomberg, traders have priced in a 76-percent chance the Federal Reserve will raise interest rates at the meeting that starts Wednesday with fewer than three increases of 0.25 percentage points in 2016.

That calculation would bring the Fed’s baseline interest rate to 0.76 percent from the current 0.14 percent level, Bloomberg reports.

Oil continued a modest rebound as crude futures in New York settled up 2.37 percent to $37.17 a barrel and brent crude in London showed a 33-cent gain — or 0.87 percent — to $38.25 a barrel.

Top GovCon Index Gainers

Symbol Company $ Current Price Net Change % Change
NAV Navistar International 8.82 +0.63 +7.69%
ACM AECOM 29.92 +1.01 +3.49%
LDOS Leidos Holdings 57.05 +1.45 +2.61%
BA Boeing 146.53 +3.53 +2.47%
I Intelsat 3.77 +0.08 +2.17%

Market Summary

Advancing Issues 19
Declining Issues 11
Unchanged Issues 0
Index Value Net Change % Change
GovCon Index 75.932 +0.165 +0.218%
S&P 500 2, 044.76 +22.82 +1.13%
Dow Jones Industrial Average 17, 524.91 +156.41 +0.90%
NASDAQ 4, 995.36 +43.13 +0.87%
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