April 15 Market Close: GovCon Index Holds Up as Energy, Tech Declines Drag US Markets

GovConIndexUPThe GovCon Index held against larger trends in U.S. financial markets Friday with a gain of 0.386 points to 75.692 as declines by energy and technology shares weighed on the bellwether S&P 500 composite index.

Nine of the GCI’s 11 S&P 500-listed companies posted gains with McKesson (NYSE: MCK) as that group’s largest positive point- and percentage-mover by $4.18 and 2.48 percent, while Textron (NYSE: TXT) and Harris Corp. (NYSE: HRS) were that group’s two decliners.

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Friday’s close represents the GovCon Index’s second positive week in the last three, as well as third in the most recent four.

Energy shares fell at least 1 percent as traders anticipated a Sunday meeting in Qatar, where the world’s largest oil producers will discuss a potential output freeze to limit a global supply glut, according to CNBC.

The major U.S. and global oil price benchmarks have plummeted nearly one-third each over 12 months on trader speculation of an over-supplied market.

Top GovCon Index Gainers

Symbol Company $ Current Price Net Change % Change
I Intelsat 3.10 +0.31 +11.11%
MCK McKesson Corp. * 172.77 +4.18 +2.48%
MMS Maximus 51.13 +0.87 +1.73%
VEC Vectrus 22.26 +0.37 +1.69%
CAE CAE 11.54 +0.19 +1.67%

* Also listed in the S&P 500 composite index

Market Summary

Advancing GovCon Index Issues 23
Declining GovCon Index Issues 7
Unchanged GovCon Index Issues 0
Index Value Net Change % Change
GovCon Index 75.692 +0.386 +0.513%
S&P 500 2, 080.72 -2.06 -0.10%
Dow Jones Industrial Average 17, 897.39 -29.04 -0.16%
NASDAQ 4, 938.22 -7.67 -0.16%

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