Home / Financial Report / February 26 Market Close: GovCon Index Notches Slight Decline on Inflation Data

February 26 Market Close: GovCon Index Notches Slight Decline on Inflation Data

GovConIndexDOWNThe GovCon Index posted a nominal decline of 0.082 points to 72.487 Friday, which puts the GCI at a gain of 1.538 percent for the week as markets continue to try to shake off turbulence from commodity price declines and uncertain economic prospects.

The Index has climbed 9.67 points percent since the start of February and is down 5.855 percent on a year-to-date basis driven by mixed fourth quarter earnings reports and 2016 outlooks from listed companies, as well as global volatility in financial markets.

Both the Index and broader U.S. stocks opened with gains Friday but gradually entered into declines as crude oil prices fell and new data showed a slight increase in an inflation measure the Federal Reserve uses.

According to CNBC, the core personal consumption expenditures price index that does not include food and energy climbed 1.7 percent in January to show the largest increase in nearly six months.

Investors also continued to digest the revised fourth-quarter gross domestic product reading that showed a 1-percent annualized growth rate, which topped the 0.7-percent estimate but fell short of the 2 percent mark in the third quarter.

Crude oil futures in New York declined 29 cents to $32.78 a barrel after a peak at close to $35 a barrel.

Top GovCon Index Gainers

Symbol Company $ Current Price Net Change % Change
NAV Navistar International 8.08 0.45 5.90%
EGL Engility Holdings 14.44 0.41 2.92%
ACM AECOM 27.91 0.57 2.08%
BA Boeing 118.16 1.34 1.15%
MCK McKesson Corp. 156.78 1.69 1.09%

*Also listed in the S&P 500 composite index

Market Summary

Advancing GovCon Index Issues 18
Declining GovCon Index Issues 12
Unchanged GovCon Index Issues 0
Index Value Net Change % Change
GovCon Index 72.488 -0.082 -0.114%
S&P 500 1, 948.05 -21.90 -1.13%
Dow Jones Industrial Average 16, 697.29 -212.30 -1.29%
NASDAQ 4, 590.47 +8.27 +0.18%

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