Executive Mosaic’s GovCon Index descended into narrow range during afternoon trade after a strong morning session Friday but held in positive ahead of a three-day holiday weekend.
The GovCon Index posted a gain of 0.178 points to 79.718 and ends the week up 3.216 percent in a sharp turnaround from Monday’s losses in the wake of the Brexit referendum in the U.K.
U.S. financial markets are closed Monday in observance of the country’s July 4 Independence Day holiday.
Friday also represented the second consecutive session of new 52-week highs in intraday trade for the same group of four stocks that hit that benchmark Thursday: Lockheed Martin (NYSE: LMT), Northrop Grumman (NYSE: NOC), Huntington Ingalls Industries (NYSE: HII) and Vectrus (NYSE: VEC).
Shares in Northrop closed down 48 cents after the contractor reached the 52-week high in the 10 a.m. Eastern time hour, while the other three stocks listed above held onto their gains.
Harris Corp. (NYSE: HRS) and Rockwell Collins (NYSE: COL) fell 85 and 75 cents respectively.
The S&P 500 composite index that contains 11 GCI stocks held positive Friday to end its best week in the year so far after the morning release of manufacturing data that exceeded economists’ expectations.
According to CNBC, the ISM reading jumped 1.9 points from May to 53.2 for June versus the forecasted 51.4.
Top GovCon Index Net Gainers
|Symbol||Company||$ Current Price||Net Change ▴||% Change|
|GD||General Dynamics *||141.34||2.10||1.51%|
|MCK||McKesson Corp. *||188.10||1.45||0.78%|
|LMT||Lockheed Martin *||249.35||1.18||0.48%|
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||16|
|Declining GovCon Index Issues||13|
|Unchanged GovCon Index Issues||1|
|Index||Value||Net Change||% Change|
|S&P 500||2, 102.95||+4.09||+0.19%|
|Dow Jones Industrial Average||17, 949.37||+19.38||+0.11%|