Executive 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|
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||20|
|Declining GovCon Index Issues||10|
|Unchanged GovCon Index Issues||0|
|Index||Value||Net Change||% Change|
|S&P 500||2, 152.43||+0.29||+0.01%|
|Dow Jones Industrial Average||18, 372.12||+24.45||+0.13%|