The 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|
|Index||Value||Net Change||% Change|
|S&P 500||2, 080.15||-22.48||-1.07%|
|Dow Jones Industrial Average||17, 729.68||-158.67||-0.89%|