Executive Mosaic’s GovCon Index turned downward in late morning trade Thursday then traded in slight negative territory during the afternoon session as investors looked ahead to the June labor report due for release before markets open Friday.
The GovCon Index fell 0.263 points to 79.557 with Boeing (NYSE: BA) and CSRA (NYSE: CSRA) as the only S&P 500-listed GCI stocks to post a gain.
Montreal-based aerospace and defense contractor CAE (NYSE: CAE) added 3.08 percent after the company disclosed nearly $77 million in aircraft maintenance and training support subcontract awards from Lockheed Martin (NYSE: LMT) and an L-3 Communications (NYSE: LLL) subsidiary.
L-3 declined $3.48 — or 2.32 percent — to end Thursday as the GCI’s biggest net lagger.
U.S. stocks reversed into negative with energy shares down 1.5 percent on declines in oil prices after the American Petroleum Institute reported a slower drawdown in the U.S.’ weekly crude inventory compared to the prior reading, according to CNBC.
Crude oil futures in New York settled down 4.83 percent to a two-month low of $45.14.
Gains in technology shares kept the NASDAQ composite index positive despite a brief dip in early afternoon trade.
Top GovCon Index Net Gainers
|Symbol||Company||$ 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||13|
|Declining GovCon Index Issues||16|
|Unchanged GovCon Index Issues||1|
|Index||Value||Net Change||% Change|
|S&P 500||2, 097.90||-1.83||-0.09%|
|Dow Jones Industrial Average||17, 895.88||-22.74||-0.13%|