December 7 Market Close: GovCon Index Plummets as Oil Price Declines Sink US Markets

GovConIndexDOWNThe GovCon Index followed across-the-board declines in U.S. markets Friday with a loss of 0.307 points to 78.031 and only five out of 30 contractors that ended the day with gains.

U.S. stocks tumbled as crude oil in New York settled down 5.8 percent to a new six-and-a-half-year low of $37.65 a barrel, and that decline triggered a loss of more than 1 percent for the S&P 500’s energy sector, according to CNBC.

Organization of the Petroleum Exporting Countries members met Friday but did not reach an agreement on a production limit to stem off long-term price declines and a strong U.S. dollar, CNBC said.

Top GovCon Index Gainers

Symbol Company $ Current Price Net Change % Change
OA Orbital ATK 89.00 +2.42 +2.80%
RTN Raytheon 127.14 +2.85 +2.29%
LLL L-3 Communications 125.47 +1.46 +1.18%
LMT Lockheed Martin 219.13 +0.74 +0.34%
NOC Northrop Grumman 187.99 +0.04 +0.02%

Market Summary

Advancing Issues 5
Declining Issues 25
Unchanged Issues 0
Index Value Net Change % Change
GovCon Index 78.031 -0.307 -0.392%
S&P 500 2, 077.11 -14.58 -0.70%
Dow Jones Industrial Average 17, 730.51 -117.12 -0.66%
NASDAQ 5, 101.81 -40.46 -0.79%

Check Also

KBR

KBR Wins Potential $93M Navy Combat Integration System Support IDIQ

KBR’s (NYSE: KBR) government services business has won a potential five-year, $92.6M contract to engineer and produce datalink systems and associated platforms for the U.S. Navy’s combat operations.

DLA

DLA Awards Logistics Modernization Integration Support IDIQs to Advantaged Solutions, United Defense International

Advantaged Solutions and United Defense International have each received a potential five-year, $265M contract from the Defense Logistics Agency for logistics modernization integration support.