The GovCon Index turned around steep losses from morning trade Wednesday to end at a gain of 0.425 points to 70.769, a close that keeps the Index in a correction, or 10 percent off its most recent high.
U.S. stocks rode a late increase in oil prices and gains by financial shares to a reversal from losses in the first hour spurred by an initial drop in crude and a then-weakened U.S. dollar, according to Reuters.
Crude oil futures in New York settled up 8 percent and investors also looked at a report that said the U.S.’ service sector expanded at a rate lower than the consensus economist expectation, Reuters reported.
Top GovCon Index Gainers
| Symbol | Company | $ Current Price | Net Change | % Change |
|---|---|---|---|---|
| I | Intelsat | 3.27 | +0.25 | +8.28% |
| BA | Boeing* | 121.87 | +4.35 | +3.70% |
| OA | Orbital ATK | 88.98 | +2.33 | +2.69% |
| EGL | Engility Holdings | 12.78 | +0.33 | +2.65% |
| RTN | Raytheon* | 128.08 | +2.64 | +2.10% |
*Also listed in the S&P 500 composite index
Market Summary
| Advancing GovCon Index Issues | 20 |
| Declining GovCon Index Issues | 8 |
| Unchanged GovCon Index Issues | 1 |
| Index | Value | Net Change | % Change |
|---|---|---|---|
| GovCon Index | 70.769 | +0.425 | +0.604% |
| S&P 500 | 1, 912.53 | +9.50 | +0.50% |
| Dow Jones Industrial Average | 16, 336.73 | +183.19 | +1.13% |
| NASDAQ | 4, 504.24 | -12.71 | -0.28% |
