September 2 Market Close: GovCon Index Rides Post-Jobs Report Surge, Notches Weekly Gain

GovConIndexUPExecutive Mosaic’s GovCon Index ended its three-day losing streak Friday after August’s jobs report missed economists expectations to register a weekly gain and investors bet against the possibility of a September interest rate hike.

GovCon Index gainers outnumbered laggers by a roughly 9-to-1 ratio and S&P 500-listed Northrop Grumman (NYSE: NOC) was the top advancer, while nine of the GCI’s 11 S&P 500 stocks ended green.

On a weekly basis, 13 GovCon Index companies advanced with four of those stocks also in the S&P 500.

Five GovCon Index stocks hit 52-week highs during intraday trade: CGI Group (NYSE: GIB),  General Dynamics (NYSE: GD), Harris Corp. (NYSE: HRS),  ICF International (Nasdaq: ICFI) and Science Applications International Corp. (NYSE: SAIC).

SAIC will report second fiscal quarter results before markets open Thursday.

Vectrus (NYSE: VEC) was the lowest performer for a second straight session Friday and has plummeted 21.78 percent over two days since the Colorado Springs-based government services contractor reported the loss of a U.S. Army logistics contract in Kuwait and Qatar.

Futures markets cut their September rate increase expectations to 27 percent from 24 percent Friday and the S&P 500 lifted to positive on a weekly basis after the Labor Department said non-farm payrolls added 151, 000 jobs in August versus the 180, 000 forecasted by analysts as the unemployment rate held at 4.9 percent, CNBC reported.

Energy shares led S&P sectors higher with crude futures in New York up 2.97 percent to $44.44 a barrel.

Market Summary

Index Value Net Change % Change
GovCon Index 81.565 +0.412 +0.508%
S&P 500 2, 179.98 +9.12 +0.42%
Dow Jones Industrial Average 18, 491.96 +72.66 +0.39%
NASDAQ 5, 249.90 +22.69 +0.43%
Advancing GovCon Index Issues 27
Declining GovCon Index Issues 3
Unchanged GovCon Index Issues 0

Top GovCon Index Net Performers

Symbol Company $ Current Price Net Change ▴ % Change
CACI CACI International, Inc. 100.07 +1.41 +1.43%
NOC Northrop Grumman * 213.24 +1.41 +0.67%
BA Boeing * 131.16 +1.26 +0.97%
CUB Cubic Corp. 48.01 +1.20 +2.56%
GD General Dynamics * 153.81 +0.97 +0.63%

Top GovCon Index Percentage Performers

Symbol Company $ Current Price Net Change % Change ▴
I Intelsat 2.75 +0.18 +7.00%
NAV Navistar International 14.07 +0.54 +3.99%
CUB Cubic Corp. 48.01 +1.20 +2.56%
BAESY BAE Systems 29.09 +0.47 +1.64%
ICFI ICF International 43.22 +0.66 +1.55%

Lowest GovCon Index Net Performers

Symbol Company $ Current Price Net Change ▾ % Change
VEC Vectrus 26.39 -0.52 -1.93%
MCK McKesson Corp. * 182.98 -0.29 -0.16%
LMT Lockheed Martin * 243.32 -0.29 -0.12%

Lowest GovCon Index Percentage Performers

Symbol Company $ Current Price Net Change % Change ▾
VEC Vectrus 26.39 -0.52 -1.93%
MCK McKesson Corp. * 182.98 -0.29 -0.16%
LMT Lockheed Martin * 243.32 -0.29 -0.12%

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