The GovCon Index posted a modest gain of 0.247Â points to 73.958Â FridayÂ on a new Labor Department jobs report that investors believe does not indicate further interest rate hikes at the moment.
Friday’s positive close puts the Index at a gain of 2.082Â percent for the weekÂ to record itsÂ third consecutive five-day period in positive movement.
The S&P 500 composite index posted a gain for the fourth consecutive week and closed one-hundredth of aÂ pointÂ shy of the 2, 000-point mark Friday investors use as a gauge to measure overallÂ U.S. financial market health.
Index stock Engility Holdings (NYSE: EGL) surgedÂ 8.22Â percent a day after the Chantilly, Virginia-based government services contractor posted full-year revenue that met analyst expectations and fourth quarter sales that exceeded Wall Street’s outlook despite net losses for both time frames.
Engility’s Friday gain narrowsÂ the stock price’s respective year-to-date and 12-monthÂ declines to 46.92Â and 51.4Â percent, while the 52-week range is $11.46-$37.97.
Heavy truck manufacturer Navistar International (NYSE: NAV) rose 2.68Â percent and is upÂ 20.06 percentÂ over two days sinceÂ itsÂ CEOÂ told Reuters he is open to more partnerships or potential dealsÂ as means to continue on the company’s turnaround.
Navistar’s stock is upÂ 25.51 percent since the start of the year and down 61.38 percentÂ over 12 months with the 52-week range at $5.78-$31.28.
Stocks rose after DOL said U.S. businesses added 242, 000 jobs in February to top economists’ expectations by 52, 000 but lower wages and hours tempered traders’ expectations for a rate increase at the Federal Reserve‘s March 15-16 meeting, Reuters reported.
Top GovCon Index Gainers
|Symbol||Company||$ Current Price||Net Change||% Change|
|BAH||Booz Allen Hamilton||29.10||0.52||1.82%|
|Advancing GovCon Index Issues||23|
|Declining GovCon Index Issues||7|
|Unchanged GovCon Index Issues||0|
|Index||Value||Net Change||% Change|
|S&P 500||1, 999.99||+6.59||+0.33%|
|Dow Jones Industrial Average||17, 006.77||+62.87||+0.37%|