March 11 Market Close: GovCon Index Rides Oil Surge to 1% Gain, Up for 4th Straight Week

GovConIndexUPThe GovCon Index rebounded 1.541 percent to 73.980 Friday with all 30 stocks up in movement that mirrored U.S. stocks’ recovery on a sharp rise in crude oil prices and investor confidence in the European Central Bank’s latest stimulus initiative.

Friday’s close puts the Index up at a nominal 0.053 points over five days to post its fourth consecutive weekly gain and the GCI is down 4.33 percent on a year-to-date basis.

The Index has risen 7.89 percent since its early February dive into a correction, when the GCI was down 11.33 percent year-to-date then.

All sectors of the S&P 500 climbed Friday to cut the composite index’s decline from the start of the year to 1.09 percent in a reversal from deep losses spurred by the plunge in oil prices.

According to Reuters, investors are uncertain whether the Federal Reserve will raise interest rates at its March 15-16 meeting as data shows the U.S. labor market is healthy but wage numbers are a concern for central bank policymakers.

Top GovCon Index Gainers

Symbol Company $ Current Price Net Change % Change
ACM AECOM 30.40 1.18 +4.04%
MCK McKesson Corp. * 166.40 5.28 +3.28%
NAV Navistar International 11.43 0.36 +3.25%
LDOS Leidos Holdings 47.59 1.39 +3.01%
TXT Textron * 33.90 0.94 +2.85%

* Also listed in the S&P 500 composite index

Market Summary

Advancing GovCon Index Issues 30
Declining GovCon Index Issues 0
Unchanged GovCon Index Issues 0
Index Value Net Change % Change
GovCon Index 73.980 +0.185 +0.253%
S&P 500 2, 022.19 +32.62 +1.64%
Dow Jones Industrial Average 17, 213.31 +218.18 +1.28%
NASDAQ 4, 748.47 +86.31 +1.85%

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