Transportation stocks are followed closely by most traders and investors. This industry group is known as a leading indicator for the markets. In fact, the transports made a short term top on January 16, 2018 which was ten days earlier than the S&P 500 Index top. This just shows how the transports will often lead the major market indexes.
Since the January 16, 2018 transport top, many of the leading transportation stocks have sold off sharply. United Parcel Service Inc (NYSE:UPS) is a market leading transport stock that has declined by over $19.00 since that transport peak. Today, UPS stock is trading lower by 0.32 to $116.14 a share.
- Published: 05 February 2018
- Written by Nicholas Santiago