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November 7 Market Close: GovCon Index Posts 2% Election Eve Rally as Markets Gain Vote Certainty

GovConIndexUPExecutive Mosaic’s GovCon Index recorded its best one-day gain in seven weeks Monday with a 2-percent gain that mirrored across-the-board rallies by U.S. stocks as investors welcomed the FBI‘s weekend letter to reiterate the agency’s stance that Hillary Clinton’s email usage was not a crime.

The U.S. stock bellwether S&P 500 composite index also barely fell short of a 2-percent gain on the reduced anxiety in equity markets and ended its longest streak of declines for 36 years.

GovCon Index gainers overwhelmingly topped decliners at a 9-to-1 ratio, all 11 S&P 500 companies closed green and co-listed companies took the top nine positions for net gainers in the GCI overall.

Thirteen GovCon Index companies in total posted gains of at least $2.00 with nine of those stocks listed in both indices.

The group of nine co-listed gainers of above $2.00 included Northrop Grumman (NYSE: NOC), McKesson Corp. (NYSE: MCK), Boeing (NYSE: BA), L-3 Communications (NYSE: LLL),  Honeywell International (NYSE: HON),  Lockheed Martin (NYSE: LMT),  Raytheon (NYSE: RTN),  Harris Corp. (NYSE: HRS) and General Dynamics (NYSE: GD).

Other stocks to exceed the $2.00-gain barrier included non-S&P companies CACI International (NYSE: CACI), Huntington Ingalls Industries (NYSE: HII), Science Applications International Corp. (NYSE: SAIC) and Orbital ATK (NYSE: OA).

McKesson climbed in conjunction with the S&P healthcare index’s gain of 2.17 percent.

New 52-week highs during intraday trade included Booz Allen Hamilton (NYSE: BAH) and ICF (Nasdaq: ICFI).

CAE (NYSE: CAE) and KBR (NYSE: KBR) were the lone GovCon Index stocks to decline.

Government services contractors Vectrus (NYSE: VEC) and S&P 500-listed CSRA (NYSE: CSRA) state quarterly financial results Wednesday with the former scheduled to report before the open and the latter after markets close.

Bloomberg reports futures traders have increased the chance of an interest rate increase in December to 82 percent from the 76-percent odds calculated Friday.

Market Summary

Index Value Net Change % Change
GovCon Index 79.738 +1.650 +2.113%
S&P 500 2, 131.52 +46.34 +2.22%
Dow Jones Industrial Average 18, 259.67 +371.39 +2.08%
NASDAQ 5, 166.17 +119.80 +2.37%
Advancing GovCon Index Issues 28
Declining GovCon Index Issues 2
Unchanged GovCon Index Issues 0

Top GovCon Index Net Gainers

Symbol Company $ Current Price Net Change ▴ % Change
NOC Northrop Grumman * 230.06 +4.83 +2.14%
MCK McKesson Corp. * 134.51 +3.75 +2.87%
BA Boeing * 143.03 +3.49 +2.50%
LLL L-3 Communications * 137.59 +3.00 +2.23%
HON Honeywell International * 111.25 +3.00 +2.77%

Top GovCon Index Percentage Gainers

Symbol Company $ Current Price Net Change % Change ▴
TXT Textron * 40.75 +1.67 +4.27%
EGL Engility Holdings 28.37 +1.09 +4.00%
VEC Vectrus 17.07 +0.62 +3.77%
NAV Navistar International 24.26 +0.83 +3.54%
SAIC SAIC 70.66 +2.08 +3.03%

Lowest GovCon Index Net Performers

Symbol Company $ Current Price Net Change ▾ % Change
CAE CAE 14.18 -0.18 -1.25%
KBR KBR 13.38 -0.14 -1.04%

Lowest GovCon Index Percentage Performers

Symbol Company $ Current Price Net Change % Change ▾
CAE CAE 14.18 -0.18 -1.25%
KBR KBR 13.38 -0.14 -1.04%

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