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.

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%

Check Also


SAIC Awarded TSA Test & Evaluation Support BPA

Science Applications International Corp. (NYSE: SAIC) has been awarded a potential $40M blanket purchase agreement for operational test and evaluation services to the Transportation Security Administration, according to an award notice posted Thursday.

US Air Force

Air Force Selects Boeing, Lockheed, Raytheon Technologies for Hypersonic Cruise Missile Tech Design Program

The U.S. Air Force has indicated its intent to solicit design proposals from Boeing (NYSE: BA), Lockheed Martin (NYSE: LMT) and Raytheon Technologies (NYSE: RTX) for a hypersonic cruise missile technology that can be launched from a fighter or a bomber aircraft.