Dow Transports Index Enters Bull Market After Thursday Rally

The Dow Jones Transportation index rose 3% on Thursday and officially entered a bull market, defined as a 20% or more gain from its most recent lows. Nearly half of Thursday's gains were largely due to a 12% jump in FedEx Corp. . This ends a bear market that began on Dec 29, 2014, and lasted through Jan 20, 2016. There was another bear market for the Transports in 2011, when the index fell more than 28% from July 7 through Oct 3, 2011, according to FactSet.