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March 1 Market Close: GovCon Index Surges 1% to Kick Off Month, Oil Up 2%

GovConIndexUPThe GovCon Index started March with a surge of 1.09 percent to 72.922 in activity that reflected larger gains in U.S. markets spurred by a climb in oil prices and a new manufacturing report that exceeded economists’ expectations.

The Index has held above 72 points for three consecutive closes and four of the last six after 13 straight days below that barrier.

The S&P 500 composite index added 2.39 percent on contributions from Apple, which hit the 4-percent gain mark in afternoon trade, and advances by financial shares at 3 percent up to lead all sectors.

U.S. stock traders were in buy mode Monday as crude oil futures in New York reversed earlier losses to settle up 1.93 percent to $34.40 a barrel and the latest ISM manufacturing report showed a 49.5 reading to top economists’ forecast by 1 point and January’s 48.2 number, according to CNBC.

Top GovCon Index Gainers

Symbol Company $ Current Price Net Change % Change
EGL Engility Holdings 15.38 0.87 6.00%
NAV Navistar International 8.84 0.43 5.11%
HON Honeywell International* 105.87 4.52 4.46%
ACM AECOM 28.68 1.22 4.44%
LDOS Leidos Holdings 44.38 1.16 2.68%

*Also listed in the S&P 500 composite index

Market Summary

Advancing GovCon Index Issues 26
Declining GovCon Index Issues 3
Unchanged GovCon Index Issues 1
Index Value Net Change % Change
GovCon Index 72.922 +0.786 +1.090%
S&P 500 1, 978.35 +46.12 +2.39%
Dow Jones Industrial Average 16, 865.08 +348.58 +2.11%
NASDAQ 4, 689.60 +131.65 +2.89%

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