Stock market rally broadens as transportation stocks join the 52-week high club
Marijuana Stocks, Finance, & InvestingUncategorized July 20, 2023 MJ Shareholders
Story by Ines Ferré
Transportation stocks are now officially part of the broader market rally – a win for the bulls.
The Dow Jones Transportation index (^DJT) touched 52-week highs on Thursday, up 21% year-to-date. The average, which includes stocks like American Airlines (AAL), rental company Avis (CAR), delivery services FedEx (FDX), and railroad operator Union Pacific (UNP), has been closely watched by strategists.
Historically, the stocks “act as an early indicator of strengthening economic conditions,” Tim Anderson, managing director of TJM Investments told Yahoo Finance on Thursday.
The timing for the index’s peak is even more relevant because another important index, the Dow Jones Industrial Average (^DJI) is also at 52-week highs…
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