Dow transports enjoy unanimous rally, led by Avis Budget, American Airlines

0
28

The Dow Jones Transportation Average DJT, +2.76% powered up 2.6% in midday trading Tuesday, with all 20 components gaining ground. The biggest boost to the index was Avis Budget Group Inc.’s stock CAR, +7.08%, which hiked up 7.0%. The stock’s price gain of $18.52 was adding about 113 points to the Dow transports’ price, which was up 378 points. The next best performers were air carriers, which appeared to get a boost after a federal judge struck down the U.S. face mask mandate covering airlines. Shares of American Airlines Group Inc. AAL, +5.66% rallied 6.6%, United Airlines Holdings Inc. UAL, +4.50% climbed 4.5% and JetBlue Airways Corp. JBLU, +2.92% jumped 4.0%. United is slated to report first-quarter earnings on Wednesday and American is scheduled to report results on Thursday. The Dow transports are outperforming the Dow Jones Industrial Average DJIA, +1.45% by a wide margin, as the Dow industrials rose 407 points, or 1.2%.

This article was originally published by Marketwatch.com. Read the original article here.

Previous article: CalPERS backs Berkshire shareholder measure to remove Warren Buffett as chairman
Next articleCredit Suisse warns of loss on higher legal provisions

LEAVE A REPLY

Please enter your comment!
Please enter your name here