The roads are more crowded than ever. Studies released on Tuesday reveal male drivers tend to waste 6 million hours a year on the road, simply because they do not ask for directions. It can’t be all our fault, but the recovering economy has been great for truckers, railroads and air-transport companies.
Union Pacific (UNP), the nations biggest railroad company, raised the earnings outlook for the quarter and year based on stronger-than-expected freight volume. UNP was up 6% on Wednesday. UNP is one of the top holdings in the exchange traded fund, iShares Dow Jones Transportation Average (IYT). The ETF was up 2% today, reaching a new high, as the top holdings in IYT all closed in positive territory.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.