January 6 Market Close: GovCon Index Nosedives as Oil,  China Weigh on US Markets

January 6 Market Close: GovCon Index Nosedives as Oil, China Weigh on US Markets


GovConIndexDOWNThe 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

SymbolCompany$ Current PriceNet Change% Change
OAOrbital ATK94.55+2.56+2.78%
BAESYBAE Systems PLC29.76+0.74+2.55%
BAHBooz Allen Hamilton30.65+0.24+0.79%
ICFIICF International35.68+0.24+0.68%
HIIHuntington Ingalls Industries127.47+0.45+0.35%

Market Summary

Advancing Issues6
Declining Issues23
Unchanged Issues1
IndexValueNet Change% Change
GovCon Index76.185-0.700-0.910%
S&P 5001, 990.26-26.45-1.31%
Dow Jones Industrial Average16, 906.51-252.15-1.47%
NASDAQ4, 835.77-55.67-1.14%

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