January 4 Market Close: GovCon Index Plunges as China Losses Trigger US Stock Selloff

GovConIndexDOWNThe GovCon Index started 2016 with a steep decline of 1.712 percent to 75.764 Monday as U.S. stocks mirrored large losses in global financial markets over growth concerns.

Armored truck maker Navistar International (NYSE: NAV) held against market forces with a gain of 8.94 percent to lead all GovCon Index gainers, and four other listed stocks also closed in green.

According to CNBC, the Dow Jones Industrial Average was at a decline of 2.5 percent to put it on pace for its largest percentage decline on a year’s first trading day since 1932.

The S&P 500, of which 11 GovCon Index stocks belong to, had posted a 2.5-percent loss as well in morning trade to go below 2, 000 for the first time since mid-December.

U.S. investors reacted to a plunge in Chinese stocks over a report that showed economic contraction there and renewed tensions between Saudi Arabia and China.

Top GovCon Index Gainers

Symbol Company $ Current Price Net Change % Change
NAV Navistar International 9.63 +0.79 +8.94%
I Intelsat 4.24 +0.08 +1.92%
HRS Harris Corp.* 87.65 +0.75 +0.86%
HNT Health Net 68.869 +0.23 +0.34%
CUB Cubic Corp. 47.40 +0.15 +0.32%

* Also listed in the S&P 500 composite index

Market Summary

Advancing GovCon Index Issues 5
Declining GovCon Index Issues 24
Unchanged GovCon Index Issues 1
Index Value Net Change % Change
GovCon Index 75.764 -1.320 -1.712%
S&P 500 2, 012.69 -31.28 -1.53%
Dow Jones Industrial Average 17, 148.94 -276.09 -1.58%
NASDAQ 4, 903.09 -104.32 -2.08%

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