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September 15 Market Close: GovCon Index Surges to Extend Volatility, Primes Lead Gains

GovConIndexUPThe GovCon Index rallied Thursday to extend its current stretch of volatility into a fifth straight session as large primes and S&P 500-listed contractors led advancers in conjunction with gains in the larger U.S. stock market on economic data traders view as a factor against a September interest rate hike.

The GovCon Index has added or lost a full percent in four out of five days and swung at least 2 percent in two sessions during a period that has seen the S&P 500 also post gains or declines of at least 1 percent in four out of five days.

GovCon Index gainers overwhelmingly outnumbered laggers in Thursday trade with the top seven advancers also included in the S&P 500 and the dual-listed CSRA (NYSE: CSRA) was one of two GCI companies to close in red along with Intelsat (NYSE: I).

Northrop Grumman (NYSE: NOC) led all GCI net gainers and was followed by other defense primes General Dynamics (NYSE: GD), Lockheed Martin (NYSE: LMT) and L-3 Communications (NYSE: LLL).

Pharmaceutical services company McKesson Corp. (NYSE: MCK) rounded out the GCI’s top five for net advancers with 5.09 million shares traded at nearly fourfold above the three-month average as the S&P healthcare sector climbed 1 percent.

ICF International (Nasdaq: ICFI) hit a new 52-week high during intraday trade and ended as the GCI’s fourth-best percentage performer.

U.S. stocks rose with information technology and energy as the top sectors after initial jobless claims for the week ended Sept. 10 fell below economists’ expectations and the August producer price index held flat to also miss analyst forecasts.

CME Group’s FedWatch tracker estimates future traders have pegged the odds of a September interest rate increase at 12 percent ahead of the Federal Reserve‘s next policy meeting scheduled for Tuesday and Wednesday.

Crude oil futures in New York settled up 0.8 percent to $43.91 a barrel after a two-day stretch that saw the price benchmark fall 6 percent on data that showed increases in U.S. petroleum products that point to a further supply glut.

Market Summary

Index Value Net Change % Change
GovCon Index 79.717 +0.688 +0.871%
S&P 500 2, 147.26 +21.49 +1.01%
Dow Jones Industrial Average 18, 212.48 +177.71 +0.99%
NASDAQ 5, 249.69 +75.92 +1.47%
Advancing GovCon Index Issues 28
Declining GovCon Index Issues 2
Unchanged GovCon Index Issues 0

Top GovCon Index Net Performers

Symbol Company $ Current Price Net Change ▴ % Change
NOC Northrop Grumman * 211.39 +2.58 +1.24%
GD General Dynamics * 152.16 +2.33 +1.56%
LMT Lockheed Martin * 239.09 +1.68 +0.71%
LLL L-3 Communications * 147.59 +1.66 +1.14%
MCK McKesson Corp. * 168.97 +1.27 +0.76%

Top GovCon Index Percentage Performers

Symbol Company $ Current Price Net Change % Change ▴
LDOS Leidos Holdings 42.10 +0.77 +1.86%
GIB CGI Group 46.83 +0.79 +1.72%
GD General Dynamics * 152.16 +2.33 +1.56%
ICFI ICF International 43.49 +0.63 +1.47%
NAV Navistar International 19.30 +0.25 +1.31%

 Lowest GovCon Index Net Performers

Symbol Company $ Current Price Net Change ▾ % Change
CSRA CSRA * 25.91 -0.44 -1.67%
I Intelsat 2.83 -0.02 -0.70%

 Lowest GovCon Index Percentage Performers

Symbol Company $ Current Price Net Change % Change ▾
CSRA CSRA * 25.91 -0.44 -1.67%
I Intelsat 2.83 -0.02 -0.70%

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