Home / Financial Report / May 17 Market Close: GovCon Index Swings Negative on Investor Rate Hike Sentiment

May 17 Market Close: GovCon Index Swings Negative on Investor Rate Hike Sentiment

GovConIndexDOWNThe GovCon Index mirrored losses by U.S. stocks Tuesday with a decline of 0.669 point to 77.421 as investors weighed the prospects of more than one interest rate hike by the Federal Reserve this year.

Dennis Lockhart and John Williams, respective Fed presidents for Atlanta and San Francisco, indicated the central bank could move in June depending on what economic data shows by then, according to Reuters.

Minutes from the Fed’s April meeting are due for release Wednesday and investors are also anticipating Chair Janet Yellen’s June 6 speech to the World Affairs Council in Philadelphia.

Utility and consumer stocks were Tuesday’s main decliners, while crude oil futures in New York rose 1.2 percent to $48.31 a barrel.

Top GovCon Index Net Gainers

Symbol Company $ Current Price Net Change ▴ % Change
MCK McKesson Corp.* 173.51 +0.98 +0.57%
COL Rockwell Collins 90.62 +0.57 +0.63%
HRS Harris Corp.* 77.49 +0.42 +0.54%
LLL L-3 Communications* 136.48 +0.23 +0.17%
TXT Textron* 38.27 +0.22 +0.58%

*Also listed in the S&P 500 composite index

Top GovCon Index Percentage Gainers

Symbol Company $ Current Price Net Change % Change ▴
NAV Navistar International 11.63 +0.08 +0.69%
COL Rockwell Collins 90.62 +0.57 +0.63%
TXT Textron* 38.27 +0.22 +0.58%
MCK McKesson Corp.* 173.51 +0.98 +0.57%
HRS Harris Corp.* 77.49 +0.42 +0.54%

Market Summary

Advancing GovCon Index Issues 6
Declining GovCon Index Issues 24
Unchanged GovCon Index Issues 0
Index Value Net Change % Change
GovCon Index 77.421 -0.669 -0.857%
S&P 500 2, 047.21 -19.45 -0.94%
Dow Jones Industrial Average 17, 529.98 -180.73 -1.02%
NASDAQ 4, 715.73 -59.73 -1.25%

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