June 13 Market Close: GovCon Index in Deep Red, SAIC Lifts After 1Q Earnings Beat

The GovCon Index was dragged Monday by the across-the-board selloff in U.S. stocks and closed at a steep decline of 1.288 percent to 78.912.

McLean, Virginia-based Science Applications International Corp. (NYSE: SAIC) was the GCI’s lone gainer at 2.16 percent after the contractor reported first-quarter earnings and revenue above analyst forecasts.

Losses by technology stocks Apple, Facebook and Microsoft weighed on the benchmark U.S. stock indicators such as the S&P 500 composite index.

Investors are anticipating the latest retail sales report due Tuesday and developments from the Federal Reserve‘s two-day meeting Tuesday and Wednesday that could set the stage for a future interest rate hike, according to Reuters.

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