The Dow Transportation Average rallied on Thursday, jumping 190 points, or .32%, to 8,502.34, with 18 of 20 components rising between 1% to 4.6%. On a percentage basis, the DTA's move on Thursday outperformed Dow Jones Industrial Average , which gained 250 points, or 1.5%, to 16,713.90. Transports have seen a sharp recovery after the recent pullback and outperformed broader markets, gaining 15% year-to-date, compared to a 5.7% gain for the S&P 500 and less than a 1% gain for the Dow industrials. Driving gains for the Transports index this year were airline companies. Third-quarter earnings from several airline companies came in stronger than expected. The companies expressed bullish sentiments for the fourth quarter, thanks to falling fuel prices, strong demand for holiday travel and easing of Ebola fears.
Copyright © 2014 MarketWatch, Inc.
Continue Reading Below