Author: Ross Wilkers|| Date Published: March 14, 2016
The GovCon Index failed to turnaround declines incurred during morning trade Monday and ended at a loss of 0.237 points to 73.743 as U.S. stocks hovered in and out of positive territory throughout the afternoon session.
Investors have turned their attention to the Federal Reserve‘s two-day meeting Wednesday and Thursday with the priced-in odds of an interest rate hike slim at this gathering but chances of a move in June at 50 percent compared to 2 percent in February, Bloomberg reported.
The S&P 500 composite index closed down a nominal 2.55 points as consumer stock gains balanced against declines among financial and energy shares.
Crude oil futures in New York fell 3.4 percent to $37.18 a barrel after Iran’s oil minister said the country plans to increase its output before discussions with other producers on how they can rebalance global supply, according to Bloomberg.
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The GovCon Index failed to turnaround declines incurred during morning trade Monday and ended at a loss of 0.237 points to 73.743 as U.S. stocks hovered in and out of positive territory throughout the afternoon session.
