July 13 Market Close: GovCon Index Posts 4th Straight Gain, US Stocks Narrow on Oil Decline

GovConIndexUPExecutive Mosaic’s GovCon Index held positive throughout Wednesday trade as U.S. stocks traded in narrow range on a fall in crude oil prices with second quarter earnings season on the horizon.

The GovCon Index gained 0.229 points to a new record of 81.751 with eight of the GCI’s 11 S&P 500 stocks in green as the U.S. stock bellwether posted a nominal gain of 0.29 points.

Five GCI stocks hit 52-week highs during intraday trade: Lockheed Martin (NYSE: LMT), AECOM (NYSE: ACM), Honeywell International (NYSE: HON), ManTech International (NASDAQ: MANT) and Vectrus (NYSE: VEC).

Lockheed kicks off the start of second quarter earnings season for GovCon Index companies Tuesday with Honeywell and Textron (NYSE: TXT) scheduled for Friday, July 22.

Crude futures in New York fell 4 percent to $44.92 a barrel in a near-reversal from the benchmark’s 4.6 percent gain Tuesday after the Energy Information Administration said gasoline supplies grew 1.21 million barrels in the week ended July 8, which Bloomberg cited as a contrast to the consensus forecast of a 1-million barrel decline.

Top GovCon Index Net Gainers

Symbol Company $ Current Price Net Change ▴ % Change
MCK McKesson Corp.* 197.41 1.94 0.99%
NOC Northrop Grumman* 221.78 1.31 0.59%
CACI CACI International 93.33 1.28 1.39%
LMT Lockheed Martin* 255.90 1.20 0.47%
LDOS Leidos Holdings 49.55 1.05 2.16%

Top GovCon Index Percentage Gainers

Symbol Company $ Current Price Net Change % Change ▴
LDOS Leidos Holdings 49.55 1.05 2.16%
EGL Engility Holdings 26.04 0.49 1.92%
SAIC SAIC 59.64 0.88 1.49%
CACI CACI International 93.33 1.28 1.39%
MCK McKesson Corp.* 197.41 1.94 0.99%

*Also listed in the S&P 500 composite index

Market Summary

Advancing GovCon Index Issues 20
Declining GovCon Index Issues 10
Unchanged GovCon Index Issues 0
Index Value Net Change % Change
GovCon Index 81.751 +0.229 +0.281%
S&P 500 2, 152.43 +0.29 +0.01%
Dow Jones Industrial Average 18, 372.12 +24.45 +0.13%
NASDAQ 5, 005.73 -17.09 -0.34%

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