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February 24 Market Close: GovCon Index Cuts AM Decline, Falls Short of Positive Close as US Stocks Gain

The GovCon Index climbed back from a more than 1-percent fall in morning trade Tuesday but fell short of a full turnaround in the final hour, down 0.059 points to 71.756 in activity that mirrored U.S. stocks’ reversals as oil prices held positive.

Crude oil futures in New York settled up 28 cents to $32.15 a barrel after new data said U.S. crude stockpiles hit 507.6 million barrels last week, which Bloomberg reports is the highest level in more than eight decades.

WTI crude, the U.S.’ main oil price benchmark, is down nearly 13 percent for the year as traders fear a long-term supply glut on sales from Iran and high U.S. stockpiles.

Nine out of 10 S&P 500 sectors posted gains with materials and technology stocks as the leaders Wednesday, according to Bloomberg.

Top GovCon Index Gainers

Symbol Company $ Current Price Net Change % Change
MMS Maximus 48.25 +1.05 +2.22%
ACM AECOM 26.67 +0.41 +1.56%
OA Orbital ATK 85.56 +0.99 +1.17%
MANT ManTech International 29.99 +0.20 +0.69%
LMT Lockheed Martin 216.53 +1.48 +0.69%

*Also listed in the S&P 500 composite index

Market Summary

Advancing GovCon Index Issues 15
Declining GovCon Index Issues 14
Unchanged GovCon Index Issues 1
Index Value Net Change % Change
GovCon Index 71.756 -0.059 -0.082%
S&P 500 1, 929.80 +8.53 +0.44%
Dow Jones Industrial Average 16, 484.99 +53.21 +0.32%
NASDAQ 4, 552.61 +67.02 +0.87%
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