Author: Ross Wilkers|| Date Published: February 12, 2016
The GovCon Index rebounded on oil price recoveries and investor confidence Friday at a gain of 0.547 points to 69.294 but remain below the 70-point barrier for a second consecutive close.
The Index posted a loss of 2 percent for the week and is down 10.62 percent from the start of the year.
CSRA‘s (NYSE: CSRA) third quarter earnings statement from Wednesday continued to spur buys of its stock as the Falls Church, Virginia-based federal technology services contractor jumped 4 percent Friday and shares have spiked 14.83 percent over two days.
U.S. stocks ended their five-day stretch of declines as crude oil futures in New York jumped 12 percent to $29.44 a barrel and brent in London gained 11 percent to $33.23, according to Bloomberg.
Investors gauged data that showed retail sales increased in January and also snapped up bank stocks to drive that sector’s largest rally since November 2011, Bloomberg reported.
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The GovCon Index rebounded on oil price recoveries and investor confidence Friday at a gain of 0.547 points to 69.294 but remain below the 70-point barrier for a second consecutive close.
