Wednesday, May 27, 2020

Trucking-stock records are seen as plus for U.S. economy

Shares of U.S. trucking companies “are telling us that the economy is going to bounce back in a much stronger way” than many people anticipate, Matt Maley, chief market strategist at Miller Tabak & Co., wrote in a report Wednesday. The S&P 1500 Composite Trucking Index closed at records the past two days and rose 39% for the 12 months ended Wednesday, according to data compiled by Bloomberg. The truckers’ 12-month advance compares with gains of 1.2% for railroads and 0.6% for air-freight companies -- and a 47% plunge among airlines, which led to a 6.4% loss for the composite transportation index.

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