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|
*Also listed in the S&P 500 composite index
|Advancing GovCon Index Issues||15|
|Declining GovCon Index Issues||14|
|Unchanged GovCon Index Issues||1|
|Index||Value||Net Change||% Change|
|S&P 500||1, 929.80||+8.53||+0.44%|
|Dow Jones Industrial Average||16, 484.99||+53.21||+0.32%|