The 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% |
