March 21 Market Close: GovCon Index Posts Narrow Gain on Oil Rise; Tech Stocks Lift US Markets

GovConIndexUPThe GovCon Index posted its fourth consecutive gain Monday by a narrow 0.074 points to 75.415 in a reversal from a sharp fall in mid-morning trade as oil prices rose and both technology and biotech stocks helped the major U.S. indices hold in positive at the close.

Utility and material shares lagged on the S&P 500 composite index — which closed up a nominal 2.02 points — as U.S. investors also gauged the latest housing report that showed existing home sales fell 7.1 percent in February to an annual rate of 5.08 million units, which Reuters reported is the lowest level since November.

The S&P 500 traded nearly one-quarter percent lower after the report’s release and turned upward on gains in crude oil futures with the New York benchmark up 1.19 percent to $39.91 barrel for the April contract and up 38 cents to $41.52 a barrel for May delivery.

Top GovCon Index Gainers

Symbol Company $ Current Price Net Change % Change
I Intelsat 2.81 0.21 +8.08%
MANT ManTech International 32.94 1.14 +3.58%
GIB CGI Group 45.76 1.28 +2.88%
BA Boeing 135.86 1.90 +1.42%
SAIC SAIC 48.06 0.57 +1.20%

Market Summary

Advancing GovCon Index Issues 18
Declining GovCon Index Issues 12
Unchanged GovCon Index Issues 0
Index Value Net Change % Change
GovCon Index 75.415 +0.074 +0.098%
S&P 500 2, 051.60 +2.02 +0.10%
Dow Jones Industrial Average 17, 623.87 +21.57 +0.12%
NASDAQ 4, 808.87 +13.23 +0.28%
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