The Dow Jones Transportation Index is higher in a down market, up around a quarter of a percent on strength in railroads and airlines.
Railcar leasing company GATX (NYSE:GMT) is leading the charge with a big earnings beat and raised dividend. Union Pacific (NYSE:UNP) also beat on earnings and revenue, thanks to raised prices and higher demand for shipments. Meanwhile, Norfolk Southern (NYSE:NSC) is rallying in sympathy and benefitting from raised price targets from BofA, JPMorgan, Deutsche Bank and others. Shares of Kansas City Southern (NYSE:KSU) and CSX (NYSE:CSX) are going along for the ride.
As for the airlines, Southwest Airlines (NYSE:LUV) shares are higher on stronger-than-expected earnings and revenue. GATX, Union Pacific and Norfolk Southern are touching all-time highs today.