April 30 Market Close: GovCon Index Plunges 2%, Biotech Losses Send Stocks Down

April 30 Market Close: GovCon Index Plunges 2%, Biotech Losses Send Stocks Down

April 30 Market Close: GovCon Index Plunges 2%, Biotech Losses Send Stocks Down

The GovCon Index capped the month of April with a decline of 2.001 percent to hit its lowest closing figure of the month at 73.372.

Bloomberg cited losses in small cap and biotechnology stocks as a driver of declines in U.S. stock markets Thursday and continued scrutiny of investors on the Federal Reserve‘s two-day meeting notes.

Traders also weighed economic data that showed consumer spending rose in March and U.S. jobless claims declined to a 15-week low, according to Bloomberg.

The Dow Jones Industrial Average fell 1.08 percent to 17,840.52, the S&P 500 composite index declined 1.01 percent to 2,085.51 and the NASDAQ composite index lost 1.64 percent to 4,941.43.

Percentage Gainers

  Company
  Stock Price
  $ Change
  % Change
  CACI International
  88.24
  1.86
  2.15%
  Intelsat
  12.59
  0.17
  1.37%
  Harris Corp.
  80.24
  0.98
  1.24%
  Cubic Corp.
  49.58
  0.22
  0.45%
  Exelis
  24.52
  0.08
  0.33%

Market Summary

  Advancing Issues
     4 (13.33%)
  Declining Issues
   26 (86.66%)
  Unchanged Issues
     0

Executive Mosaic‘s GovCon Index is a composite index that tracks 30 of the largest publicly-traded Government Contracting (GovCon) firms.

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April 30 Market Close: GovCon Index Plunges 2%, Biotech Losses Send Stocks Down

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