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

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%

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