December 30 Market Close: GovCon Index Retreats, Traders Return to Oil Focus

GovConIndexDOWNThe GovCon Index held in negative territory throughout Wednesday and closed at a loss of 0.621 points to 77.761 as U.S. markets continued to be weighed down by oil price declines in both of the commodity’s major benchmarks.

On a year-to-date basis, the Index remains above the 10-percent mark for a gain against declines in several sectors within the S&P 500 composite index, of which 11 GovCon Index companies are also listed in.

Falls Church, Va.-based technology contractor CSRA (NYSE: CSRA) was the Index’s leading gainer for a second consecutive day at 26 cents — or 0.88 percent to $29.85 and the company’s stock has recorded gains in four consecutive trading sessions.

CSRA ended Wednesday as the fourth-highest percentage gainer in the S&P 500 a day after the company led the Index in positive movement.

Crude futures in New York settled down 3.06 percent to $36.71 a barrel after the American Petroleum Institute said the country’s oil inventory grew another 2.9 million barrels and brent crude in London fell 3.18 percent to $36.59 a barrel.

Energy shares fell nearly 1.5 percent and material stocks also declined in afternoon trade, CNBC reported.

GovCon Index Gainers

Symbol Company $ Current Price Net Change % Change
CSRA CSRA * 29.85 +0.26 +0.88%
CUB Cubic Corp. 47.76 +0.23 +0.48%
LLL L-3 Communications * 120.94 +0.22 +0.18%

* Also listed in the S&P 500 index

Market Summary

Advancing Issues 3
Declining Issues 26
Unchanged Issues 1
Index Value Net Change % Change
GovCon Index 77.761 0.621 0.792%
S&P 500 2, 063.36 -15.00 -0.72%
Dow Jones Industrial Average 17, 603.87 -117.11 -0.66%
NASDAQ 5, 065.85 -42.09 -0.82%

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