April 14 Market Close: GovCon Index Descends to Loss in Afternoon Trade

The GovCon Index descended into narrow range in a choppy afternoon trading session Thursday and closed at a nominal decline of 0.093 points to 75.306 as U.S. investors paused to gauge markets’ rally over Tuesday and Wednesday.

Financial shares posted a fifth-straight positive day on earnings from banks that exceeded Wall Street’s expectations.

Telecommunications stocks also climbed but all sector gains were offset by losses in materials shares.

Crude oil futures in New York settled down 26 cents to $41.50 a barrel.

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* Also listed in the S&P 500 composite index

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