September 16 Market Close: GovCon Index Down, Ends Week at Loss Ahead of Fed Rate Summit

GovConIndexDOWNExecutive Mosaic’s GovCon Index held negative Friday to end at a weekly decline as U.S. stock markets extended the current stretch of sharp swings between gains and losses as the Federal Reserve‘s next two-day meeting looms for Tuesday and Wednesday.

Decliners outnumbered advancers 9-to-1 and all of the GovCon Index’s S&P 500 stocks posted losses in Friday trade, while four GCI companies registered gains for the week with Honeywell International (NYSE: HON) the only co-listed riser over five days at 1.3 percent.

Industrial conglomerate Honeywell ended as the GCI’s best percentage performer over five days and McKesson Corp. (NYSE: MCK) ended as the week’s worst to mirror steep losses by healthcare stocks.

McKesson ended second to shipbuilder Huntington Ingalls Industries (NYSE: HII) for GCI net decliners in Friday trade and other laggers included prime contractors Lockheed Martin (NYSE: LMT), Orbital ATK (NYSE: OA) and General Dynamics (NYSE: GD).

Science Applications International Corp. (NYSE: SAIC) led all GCI net advancers Friday on the rate hike speculation in Wall Street as the company derives nearly all revenue from the U.S. federal government with other services-oriented contractors ManTech International (Nasdaq: MANT) and ICF International (Nasdaq: ICFI) also up.

Financial and energy shares weighed on the S&P 500 Friday but the U.S. market bellwether held onto its gain on a weekly basis with help from technology blue chips that include a 10-percent surge over five days by Apple after the iPhone 7 reveal.

Futures markets rose expectations of a rate hike at the next Fed meeting to 15 percent from 12 percent as investors examined the September consumer sentiment that missed economists’ expectations, CNBC reported.

Market Summary

Index Value Net Change % Change
GovCon Index 78.957 -0.760 -0.953%
S&P 500 2, 139.16 -8.10 -0.38%
Dow Jones Industrial Average 18, 123.80 -88.68 -0.49%
NASDAQ 5, 244.57 -5.12 -0.10%
Advancing GovCon Index Issues 4
Declining GovCon Index Issues 26
Unchanged GovCon Index Issues 0

Lowest GovCon Index Net Performers

Symbol Company $ Current Price Net Change ▾ % Change
HII Huntington Ingalls Industries 156.36 -3.53 -2.21%
MCK McKesson Corp. * 166.16 -2.81 -1.66%
LMT Lockheed Martin * 237.45 -1.64 -0.69%
OA Orbital ATK, Inc 72.48 -1.45 -1.96%
GD General Dynamics * 150.75 -1.41 -0.93%

Lowest GovCon Index Percentage Performers

Symbol Company $ Current Price Net Change % Change ▾
BAESY BAE Systems 28.05 -1.10 -3.77%
VEC Vectrus 27.03 -0.64 -2.31%
HII Huntington Ingalls Industries 156.36 -3.53 -2.21%
OA Orbital ATK, Inc 72.48 -1.45 -1.96%
BAH Booz Allen Hamilton 29.66 -0.52 -1.72%

Top GovCon Index Net Performers

Symbol Company $ Current Price Net Change ▴ % Change
SAIC SAIC 66.85 +0.31 +0.47%
MANT ManTech International 39.37 +0.21 +0.54%
NAV Navistar International 19.44 +0.14 +0.73%
ICFI ICF International 43.55 +0.06 +0.14%

Top GovCon Index Percentage Performers

Symbol Company $ Current Price Net Change % Change ▴
NAV Navistar International 19.44 +0.14 +0.73%
MANT ManTech International 39.37 +0.21 +0.54%
SAIC SAIC 66.85 +0.31 +0.47%
ICFI ICF International 43.55 +0.06 +0.14%

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