GovCon Wire Your Direct Source for Government Contracting News
The GovCon Index suffered a reversal from the prior day’s gain Wednesday to close at a decline of 0.7 points — or 0.910 percent — to 76.185 as U.S. investors reacted to more oil price declines and showed continued concerns about China’s economy.
The S&P 500 plunged 1.31 percent to close at the 1, 990 level and fall below the 2, 000-mark investors use to gauge the health of U.S. stocks.
Crude oil futures in New York plummeted 5.45 percent to an 11-year low of $34.01 a barrel and brent crude in London declined 5.85 percent to $34.29 a barrel.
The S&P 500’s energy sector plunged 3.62 percent and was the composite index’s worst performer.
Investors looked at a gauge that says China’s services sectors slowed in December by a full point to 50.2 at a level barely above the number to show expansion versus contraction, according to the Wall Street Journal.
Top GovCon Index Gainers
| Symbol | Company | $ Current Price | Net Change | % Change |
|---|---|---|---|---|
| OA | Orbital ATK | 94.55 | +2.56 | +2.78% |
| BAESY | BAE Systems PLC | 29.76 | +0.74 | +2.55% |
| BAH | Booz Allen Hamilton | 30.65 | +0.24 | +0.79% |
| ICFI | ICF International | 35.68 | +0.24 | +0.68% |
| HII | Huntington Ingalls Industries | 127.47 | +0.45 | +0.35% |
Market Summary
| Advancing Issues | 6 |
| Declining Issues | 23 |
| Unchanged Issues | 1 |
| Index | Value | Net Change | % Change |
|---|---|---|---|
| GovCon Index | 76.185 | -0.700 | -0.910% |
| S&P 500 | 1, 990.26 | -26.45 | -1.31% |
| Dow Jones Industrial Average | 16, 906.51 | -252.15 | -1.47% |
| NASDAQ | 4, 835.77 | -55.67 | -1.14% |
