January 18 Market Close: GovCon Index Higher, US Stocks Mixed After Fed Chair Speech

Executive Mosaic’s GovCon Index traded higher Wednesday on help from its large-cap components against mixed U.S. stock movements as investors awaited Federal Reserve chair Janet Yellen’s speech on the U.S. economy during the last hour of trade.

GovCon Index gainers slightly edged decliners each and nine of its 11 S&P 500 companies advanced with co-listed Raytheon (NYSE: RTN) ended as the GCI’s overall top net performer at a gain just short of $2.00.

Raytheon was followed in the top five net gainers by fellow large primes Northrop Grumman (NYSE: NOC) and Huntington Ingalls Industries (NYSE: HII), pharmaceutical supplier McKesson Corp. (NYSE: MCK) and government services contractor CACI International (NYSE: CACI).

Montreal-based technology services provider CGI Group (NYSE: GIB) weighed as the GCI’s largest decliner at a loss of more than $1.00.

Yellen told the Commonwealth Club in San Francisco in prepared remarks the U.S. economy is “near maximum employment” and inflation is continually progressing toward the Fed’s goal of 2 percent, Bloomberg reported.

The Fed raised the benchmark interest rate to a 0.5-0.75 percent range in December and the central bank’s policy leaders forecasted three 0.25-point increases for 2017 during that monetary policy meeting.

Financial stocks led six major S&P 500 sectors higher with telecommunications the lowest performer among the remaining five.

Market Summary

Index Value Net Change % Change
GovCon Index 88.417 +0.206 +0.295%
S&P 500 2, 271.89 +4.00 +0.18%
Dow Jones Industrial Average 19, 804.72 -22.05 -0.11%
NASDAQ 5, 555.65 +16.93 +0.31%
Advancing GovCon Index Issues3 16
Declining GovCon Index Issues 14
Unchanged GovCon Index Issues 0

Top GovCon Index Net Performers

Symbol Company $ Current Price Net Change ▴ % Change
RTN Raytheon * 147.02 +1.92 +1.32%
NOC Northrop Grumman * 230.24 +1.76 +0.77%
HII Huntington Ingalls Industries 190.94 +1.33 +0.70%
MCK McKesson Corp. * 149.74 +1.31 +0.88%
CACI CACI International 123.30 +1.00 +0.82%

Top GovCon Index Percentage Performers

Symbol Company $ Current Price Net Change % Change ▴
RTN Raytheon * 147.02 +1.92 +1.32%
ACM AECOM 35.70 +0.40 +1.13%
MCK McKesson Corp. * 149.74 +1.31 +0.88%
CACI CACI International 123.30 +1.00 +0.82%
LDOS Leidos Holdings 49.82 +0.40 +0.81%

Lowest GovCon Index Net Performers

Symbol Company $ Current Price Net Change ▾ % Change
GIB CGI Group 48.19 -1.28 -2.59%
OA Orbital ATK 87.32 -0.32 -0.37%
MMS Maximus 57.18 -0.25 -0.44%
BAESY BAE Systems 29.71 -0.24 -0.80%
EGL Engility Holdings 31.81 -0.21 -0.66%

Lowest GovCon Index Percentage Performers

Symbol Company $ Current Price Net Change % Change ▾
GIB CGI Group 48.19 -1.28 -2.59%
CAE CAE 13.99 -0.13 -0.92%
BAESY BAE Systems 29.71 -0.24 -0.80%
NAV Navistar International 29.03 -0.20 -0.68%
EGL Engility Holdings 31.81 -0.21 -0.66%

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