December 4 Market Close: GovCon Index, US Stocks Soar on Jobs Numbers

GovConIndexUPThe GovCon Index posted a full rally from the prior day’s losses with a gain of 1.645 percent to 78.284 Friday on a similar surge in U.S. markets after the latest jobs report from the Labor Department.

Friday’s climb recovered some damage incurred from Thursday’s plunge to bring the Index to a decline of 0.11 points — or 0.141 percent — over five days and a climb of 3.085 percent over the past month.

U.S. investors cheered DOL’s report that said non-farm businesses in the country added 211, 000 jobs in November to beat the consensus economist forecast by 11, 000 and markets view this as an indicator the Federal Reserve will increase interest rates at its Dec. 15-16 meeting, according to the Wall Street Journal.

Energy was the only S&P 500 sector to decline Friday after the Organization of the Petroleum Exporting Countries failed to reach an agreement on oil production restrictions which signals member countries will continue to supply crude in a market many observers believe is oversupplied, the Journal said.

S&P 500 energy stocks declined 0.6 percent and U.S. crude oil fell 2.8 percent to $39.90 a barrel.

Top GovCon Index Gainers

Symbol Company $ Current Price Net Change % Change
SECCY Serco Group 1.81 +0.15 +9.03%
I Intelsat 4.09 +0.18 +4.60%
CUB Cubic Corp. 49.16 +1.76 +3.71%
OA Orbital ATK 86.58 +2.69 +3.21%
LDOS Leidos Holdings 59.05 +1.68 +2.93%

Market Summary

Advancing Issues 26
Declining Issues 4
Unchanged Issues 0
Index Value Net Change % Change
GovCon Index 78.284 +1.267 +1.645%
S&P 500 2, 091.62 +42.00 +2.05%
Dow Jones Industrial Average 17, 847.63 +369.96 +2.12%
NASDAQ 5, 142.27 +104.74 +2.08%

You may also be interested in...

William Conley CTO Mercury Systems

Mercury Systems’ William Conley Joins NDIA Central Georgia Chapter Board

William Conley, chief technology officer of Mercury Systems (Nasdaq: MRCY), has been named to the board of directors for the National Defense Industrial Association's Central Georgia chapter. He will serve as a board member for a term of up to six years, Mercury Systems said Thursday.

Cloud IT

DHS Posts $3B Data Center, Cloud Solicitation

The Department of Homeland Security has issued a request for proposals for its indefinite-delivery/indefinite-quantity Data Center and Cloud Optimization contract worth potentially $3.35B over 10 years.