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November 22 Market Close: GovCon Index, S&P 500 Notch Record Closes to Extend Post-Election Rally

GovConIndexUPExecutive Mosaic’s GovCon Index set a new closing record Tuesday with a 1-percent gain paced by defense prime and government services stocks as the U.S. bellwether S&P 500 also ended at an all-time high in spite of healthcare stock declines.

GovCon Index advancers outnumbered decliners at a 4-to-1 ratio and nine of its 11 S&P 500 companies registered gains with Huntington Ingalls Industries (NYSE: HII) the GCI’s overall lead gainer and Boeing (NYSE: BA) the top performer among co-listed stocks.

Boeing closed fourth overall for GCI net gainers after the airplane maker said it will create a new standalone services segment for both the commercial and defense markets to be led by three-decade company veteran Stanley Deal.

The move comes five months after Boeing defense chief Leanne Caret told the Wall Street Journal the segment is emphasizing services and maintenance work on existing planes along with commercial derivatives for military usage as the company is slated to end combat jet manufacturing sometime in the 2020s.

Boeing plans to have the new global services organization start operations by the third quarter of next year.

Eight GovCon Index stocks hit 52-week highs during the Tuesday session and 11 added at least $1.00.

Healthcare stocks plunged 1.6 percent to lead three sectors lower but telecommunications and seven others advanced to push the S&P 500 at a close above 2, 100 for the first time ever in a continuation of the post-election rally as investors remain certain the Federal Reserve will raise interest rates in December.

Futures market have priced the odds of a December hike at 90 percent, CNBC reported.

Market Summary

Index Value Net Change % Change
GovCon Index 88.554 +0.946 +1.080%
S&P 500  2, 202.94 +4.76 +0.22%
Dow Jones Industrial Average 19, 023.87 +67.18 +0.35%
NASDAQ 5, 386.86 +17.49 +0.33%
Advancing GovCon Index Issues 25
Declining GovCon Index Issues 5
Unchanged GovCon Index Issues 0

Top GovCon Index Net Gainers

Symbol Company $ Current Price Net Change ▴ % Change
HII Huntington Ingalls Industries 178.92 +3.32 +1.89%
CACI CACI International 129.15 +3.05 +2.42%
CUB Cubic Corp. 46.85 +2.65 +6.00%
BA Boeing * 149.52 +2.50 +1.70%
SAIC SAIC 82.74 +1.86 +2.30%

Top GovCon Index Percentage Gainers

Symbol Company $ Current Price Net Change % Change ▴
CUB Cubic Corp. 46.85 +2.65 +6.00%
EGL Engility Holdings 36.42 +1.42 +4.06%
VEC Vectrus 22.76 +0.80 +3.64%
NAV Navistar International 30.36 +0.89 +3.02%
ICFI ICF 54.00 +1.40 +2.66%

Lowest GovCon Index Net Performers

Symbol Company $ Current Price Net Change ▾ % Change
BAESY BAE Systems 29.65 -0.28 -0.95%
KBR KBR 16.62 -0.16 -0.95%
LLL L-3 Communications * 152.06 -0.05 -0.03%
MCK McKesson Corp. * 141.33 -0.02 -0.01%
CAE CAE 14.68 -0.01 -0.07%

Lowest GovCon Index Percentage Performers

Symbol Company $ Current Price Net Change % Change ▾
BAESY BAE Systems 29.65 -0.28 -0.95%
KBR KBR 16.62 -0.16 -0.95%
CAE CAE 14.68 -0.01 -0.07%
LLL L-3 Communications * 152.06 -0.05 -0.03%
MCK McKesson Corp. * 141.33 -0.02 -0.01%

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