The Dow Jones Transportation Average charged up 138 points, or 1.3%, in morning trading Tuesday to ride a 10-day win streak (Avis Budget Group Inc.'s stock (CAR) surged 11.5% to pace the index's gainers, as new highs in post-COVID-19 travel demand ( ) provided a boost for the auto rental company. That also helped lift the stock of all six of the index's airline components, led by the 3.0% surge in Delta Air Lines Inc. (DAL) and American Airlines Group Inc.'s (AAL) 2.4% rally. Meanwhile, United Parcel Service Inc.'s stock (UPS) was the index's biggest decliner, as it shed 2.4% to snap a 5-day win streak that had lifted it to a record close on Monday. The Dow transports, on track for the first close above 11,000 since Feb. 20, is now up 0.9% year to date, while the Dow Jones Industrial Average ( ), which is running up 268 points, or 1.0% on Tuesday, has slipped 1.7% this year.) back into a positive territory for the year, amid increasing optimism that a new stimulus package will provide a fresh jolt to an improving economy. The Dow transports has soared 13.5% during its current win streak, would be the longest since the 10-day stretch of gains ending Jan. 28, 2013.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
August 11, 2020 12:54 ET (16:54 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.