Thursday, April 7, 2016

Dow Transports send warning signal for S&P 500

Airlines, railroads and other transportation companies are sending “a warning signal about another change in trend” for U.S. stocks, Matt Maley, an equity strategist at Miller Tabak & Co. LLC, wrote Thursday in an e-mailed note to clients.

The Dow Jones Transportation Average dropped 4 percent through Wednesday from this year’s high, set March 18, and extended its decline in early trading on Thursday. The 20-stock average rallied from its 2016 low about three weeks before the Standard & Poor’s 500 Index followed suit.

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