Dow Transport index goes green, airlines still in the red

Landstar System

07/04/2022 21:35

(Updates prices to close)
** The economically sensitive Dow Jones transportation average
index  .DJT  on Thurs closed up 0.3% after six straight days of
losses as markets broadly regained ground late in the session,
changing the index to green from red
    ** The last time the index had fallen six days in a row was
in Feb, 2020. At its lowest point on Thurs DJT was down 1.99%
    ** DJT's biggest decliners on Thurs were airlines. While
Barclays has hopes for airlines in Q2, it cut its price target
for several stocks in the sector citing expected weakness in Q1
earnings  urn:newsml:reuters.com:*:nL3N2W5250
    ** Airlines still among the biggest DJT percentage losers by
the end of day though they ended above session lows with
Southwest  LUV.N  leading the way with a 3% drop.  American
Airlines  AAL.O , JetBlue  JBLU.O , and Alaska Air  ALK.N  all
fell more than 2%, while United Airlines  UAL.O  and Delta
 DAL.N  lost more than 1%%. The S&P 500 airlines  .SPLRCALI 
closed down 2%
    ** In transports, 9 stocks closed higher with Avis's  CAR.O 
2% gain leading the way followed by Landstar's  LSTR.O  1.8%
gain

 (Reporting By Sinéad Carew, Terence Gabriel)
 ((sinead.carew@thomsonreuters.com;))