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April 4 Market Close: GovCon Index Declines as US Market Rally Pauses

GovConIndexDOWNThe GovCon Index started the first full week of April and second-quarter trade Monday with a decline of 0.191 points to 74.189 in a session that saw U.S. stocks hold slightly negative throughout the day.

The S&P 500 composite index closed down 6.65 points — or 0.32 percent — as investors slowed down the flurry of positive movement in U.S. markets in search of new indicators on the pace and timing of interest rate hikes.

Reuters cited the CME Group FedWatch program’s projection that traders expect the Federal Reserve to raise rates one time compared to the central bank’s projections of two hikes.

Crude oil futures in New York fell 2.96 percent to a one-month low of $35.70 with the brent benchmark in London down 94 cents to $37.73 a barrel over continued concerns that major producers are not close to a production freeze agreement.

Top GovCon Index Gainers

Symbol Company $ Current Price Net Change % Change
I Intelsat 2.59 +0.04 +1.57%
RTN Raytheon* 124.22 +1.72 +1.41%
LLL L-3 Communications* 119.40 +0.86 +0.73%
LDOS Leidos Holdings 51.75 +0.36 +0.70%
MCK McKesson Corp.* 158.21 +0.80 +0.51%

* Also listed in the S&P 500 composite index

Market Summary

Advancing GovCon Index Issues 10
Declining GovCon Index Issues 20
Unchanged GovCon Index Issues 0
Index Value Net Change % Change
GovCon Index 74.189 -0.191 -0.257%
S&P 500 2, 066.13 -6.65 -0.32%
Dow Jones Industrial Average 17, 737.00 -55.75 -0.31%
NASDAQ 4, 891.79 -22.75 -0.46%
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