Dow Jones Transportation Average (+1.5%) bouncing hard
The growth-sensitive group fell to a fresh low for the month during yesterday’s session, but it has recovered the bulk of that loss today thanks to gains in all but three of its components.
Matson (MATX 34.97, +7.61, +27.8%): leading performer in the sector, soaring past its 50-day (28.89) and 200-day (34.00) moving averages to its best level in almost four months after issuing much better than expected guidance for Q2.
Avis Budget (CAR 27.93, +1.09, +4.0%): looking to remain above its 200-day moving average (26.13).
American Airlines (AAL 11.62, +0.43, +3.9%): bouncing off a five-week low. Company has reportedly threatened to cancel some orders for the 737 MAX from Boeing (BA 174.80, +1.52, +0.9%).
JetBlue Airways (JBLU 10.36, +0.38, +3.7%): climbing back to its 50-day moving average (10.46) after falling below that level yesterday.
Southwest Air (LUV 32.62, +1.05, +3.3%): reclaiming its 50-day moving average (32.04).
Alaska Air (ALK 35.15, +0.71, +2.1%): reclaiming its 50-day moving average (34.53) after touching a two-week low.
JB Hunt Transport (JBHT 127.03, +2.03, +1.6%): rising to its best level since September 2018.
Kirby (KEX 46.52, -0.51, -1.1%): weakest performer in the group, falling to its lowest level since early May.