Author: Ross Wilkers|| Date Published: February 3, 2016
The GovCon Index turned around steep losses from morning trade Wednesday to end at a gain of 0.425 points to 70.769, a close that keeps the Index in a correction, or 10 percent off its most recent high.
U.S. stocks rode a late increase in oil prices and gains by financial shares to a reversal from losses in the first hour spurred by an initial drop in crude and a then-weakened U.S. dollar, according to Reuters.
Crude oil futures in New York settled up 8 percent and investors also looked at a report that said the U.S.’ service sector expanded at a rate lower than the consensus economist expectation, Reuters reported.
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The GovCon Index turned around steep losses from morning trade Wednesday to end at a gain of 0.425 points to 70.769, a close that keeps the Index in a correction, or 10 percent off its most recent high.
