The GovCon Index failed to sustain its rebound and mirrored sell-offs in the larger U.S. market Friday with a loss of 1.288Â percent to 75.751.
For the week, the Index recorded a decline of 3.236 percent but still holds in positive for the fourth quarter-to-date at a gain of 11.643 percent.
CSRA (NYSE: CSRA), the federal technology services contractor launched Nov. 30, was the Index’s only gainer at 1.33 percent to $28.92 with Serco Group (U.S. over-the-counter) unchanged at $1.63 and all other 28 stocks down.
Crude oil futures in New York settled down 3.1 percent to $35.62 a barrel and at one point reached a new low from February 2009 to send the S&P 500 energy sector down 3 percent, according to CNBC.
U.S. investors also looked at the International Energy Agency’s forecast that the global oil market could see more supply next year in a saturated market and are continuing to anticipate the Federal Reserve‘s meeting next week on whether to raise interest rates as many traders expect, CNBC said.
Market Summary
| Advancing Issues | 1 |
| Declining Issues | 28 |
| Unchanged Issues | 1 |
| Index | Value | Net Change | % Change |
|---|---|---|---|
| GovCon Index | 75.751 | -1.219 | -1.584% |
| S&P 500 | 2, 012.37 | -39.86 | -1.94% |
| Dow Jones Industrial Average | 17, 265.21 | -309.54 | -1.76% |
| NASDAQ | 4, 933.46 | -111.71 | -2.21% |
