The GovCon Index kicked off the first full trading week of June on a positive note with a gain of 0.516 points to 79.534 as U.S. markets appeared unmoved by Federal Reserve Chair Janet Yellen’s hint at further interest rate increases this year.
Yellen told an audience at the World Affairs Council of Philadelphia the central bank views the U.S. economy as moving in a positive direction despite Friday’s May jobs numbers that missed analyst forecasts, according to Reuters.
She gave no firm timeline for when the next rate hike would happen and traders expect the Fed to move in either September or July, Reuters reported.
Top GovCon Index Net Gainers
|Symbol||Company||$ Current Price||Net Change ▴||% Change|
Top GovCon Index Percentage Gainers
|Symbol||Company||$ Current Price||Net Change||% Change ▴|
* Also listed in the S&P 500 composite index
|Advancing GovCon Index Issues||25|
|Declining GovCon Index Issues||5|
|Unchanged GovCon Index Issues||0|
|Index||Value||Net Change||% Change|
|S&P 500||2, 109.41||+10.28||+0.49%|
|Dow Jones Industrial Average||17, 920.33||+113.27||+0.64%|