Author: David Smith|| Date Published: March 15, 2017
Executive Mosaic’s GovCon Index closed up on the day as markets responded positively to the Federal Reserve raising the benchmark lending rate.
Not to anybody’s surprise the Federal Reserve raised rates by one quarter point to 1.0 percent, while also giving a strong indication for two additional rate increases later in the year.
Of the thirty stocks that make up the GovCon Index all but two advanced on the day with Navistar (NYSE:NAV) up 5.40 percent and Cubic (NYSE:CUB) up 2.46 percent leading the way.
WTI reversed is downward slid closing up 2.47% to $48.90 per barrel; still off it’s thirty day high of $54.45 (from Feb. 23).
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Executive Mosaic’s GovCon Index closed up on the day as markets responded positively to the Federal Reserve raising the benchmark lending rate.
