December 2 Market Close: GovCon Index Treads Down, US Stocks Decline on Energy Losses

GovConIndexDOWNThe GovCon Index held in negative territory after a brief spike in the first hour of trading Wednesday to end at a decline of 0.581 points to 78.157.

Science Applications International Corp. (NYSE: SAIC) led Index gainers at 2.12 percent to $51.60 after the McLean, Virginia-based contractor reported third quarter earnings above the consensus Wall Street analyst expectation.

U.S. stocks also lost ground Friday with all three major indices down between one-half and a full percentage point as energy stocks were the biggest decliners in the S&P 500 on a decline in oil prices to below $40 per barrel in New York, Bloomberg reported.

Wednesday was also the last full trading session before the European Central Bank’s meeting and Federal Reserve Chair Janet Yellen’s testimony to lawmakers in Washington, according to Bloomberg.

Yellen told the Economic Club of Washington Wednesday the U.S. economy is starting to see an improved labor market and higher inflation, Bloomberg said.

Top GovCon Index Gainers

Symbol Company $ Current Price Net Change % Change
SAIC SAIC 51.60 +1.07 +2.12%
MMS Maximus 57.50 +0.55 +0.97%
CSRA CSRA 30.76 +0.19 +0.62%
OA Orbital ATK 86.02 +0.12 +0.14%
HNT Health Net 64.21 +0.19 +0.62%

Market Summary

Advancing Issues 5
Declining Issues 23
Unchanged Issues 2
Index Value Net Change % Change
GovCon Index 78.157 -0.581 -0.738%
S&P 500 2, 080.15 -22.48 -1.07%
Dow Jones Industrial Average 17, 729.68 -158.67 -0.89%
NASDAQ 5, 123.22 -33.08 -0.64%

Check Also

Cybersecurity

Rule Change to Add CMMC Requirements to Contracts Completes Interagency Review

The Department of Defense’s Cybersecurity Maturity Model Certification has undergone an interagency review as part of a rulemaking process needed to make CMMC a part of the Defense Federal Acquisition Regulations, FedScoop reported Tuesday.

US Navy battleships

Life Cycle Engineering, McKean Defense Win Shared $78M Navy IDIQ for Navigational Tech Support

Life Cycle Engineering and McKean Defense Group have been selected to help the U.S. Navy engineer shipboard navigational equipment under an indefinite-delivery/indefinite-quantity contract worth potentially $78.3M over five years.