January 12 Market Close: GovCon Index 4-Day Losing Streak Ends w/ 1% Climb

GovConIndexUPThe GovCon Index snapped a four-day streak of declines Tuesday with a surge upward of 1.129 percent to 74.285 in another volatile trading day for U.S. financial markets driven by continued oil price declines and attention on China.

Crude oil futures in New York settled 50 minutes later than usual due to volatility and ended down 4 percent to $30.44 with a brief entry below the $30 mark for the first time since December 2003, according to CNBC.

Brent futures in London fell nearly 2 percent to $30.96 a barrel as commodity traders examined the potential of a further supply glut, slowing demand in China and a stronger U.S. dollar.

The S&P 500 recorded a gain of 15 points Tuesday on modest investor optimism over a potential stabilization of markets in China and comments from President Xi Jinping that said the country will show an economic growth rate of 6.5 percent through to 2020, CNBC reported.

Top GovCon Index Gainers

Symbol Company $ Current Price Net Change % Change
LDOS Leidos Holdings 55.39 +2.61 +4.95%
CSRA CSRA* 29.02 +0.93 +3.31%
OA Orbital ATK 90.99 +2.63 +2.98%
GIB CGI Group 38.52 +1.04 +2.77%
HNT Health Net 67.07 +1.73 +2.65%

*Also listed in the S&P 500 composite index

Market Summary

Advancing Issues 24
Declining Issues 5
Unchanged Issues 1
Index Value Net Change % Change
GovCon Index 74.285 +0.829 +1.129%
S&P 500 1, 938.68 +15.01 +0.78%
Dow Jones Industrial Average 16, 516.22 +117.65 +0.72%
NASDAQ 4, 685.92 +47.93 +1.03%

Check Also

Michael McHugh CEO DirectViz Solutions

DirectViz COO Michael McHugh Promoted to CEO

Michael McHugh, chief operating officer of DirectViz Solutions, has elevated to the CEO post at the Chantilly, Va.-based information technology engineering and professional services contractor.

MQ-4C Triton

Navy Plans Triton UAS Test Support Order for Northrop

The Department of the Navy plans to award Northrop Grumman’s (NYSE: NOC) aerospace systems business a delivery order to provide analysis support for demonstration activities involving the MQ-4C Triton unmanned aerial system.