Author: Ross Wilkers|| Date Published: January 12, 2016
The GovCon Index snapped a four-day streak of declines Tuesday with a surge upward of 1.129 percent to 74.285 in another volatile trading day for U.S. financial markets driven by continued oil price declines and attention on China.
Crude oil futures in New York settled 50 minutes later than usual due to volatility and ended down 4 percent to $30.44 with a brief entry below the $30 mark for the first time since December 2003, according to CNBC.
Brent futures in London fell nearly 2 percent to $30.96 a barrel as commodity traders examined the potential of a further supply glut, slowing demand in China and a stronger U.S. dollar.
The S&P 500 recorded a gain of 15 points Tuesday on modest investor optimism over a potential stabilization of markets in China and comments from President Xi Jinping that said the country will show an economic growth rate of 6.5 percent through to 2020, CNBC reported.
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The GovCon Index snapped a four-day streak of declines Tuesday with a surge upward of 1.129 percent to 74.285 in another volatile trading day for U.S. financial markets driven by continued oil price declines and attention on China.
