The iShares Dow Jones Transportation Average (IYT) exchange traded fund (ETF) has reached new highs recently and is up this year 9.8%. In an environment in which the price of oil has dropped 29% in the past four months, it is no surprise. Kevin Baker of TheStreet.com reports that if transportation can confirm the industrials bullishness, then the sector can be seen as a barometer of economic activity.
Top holdings include: Fedex Corp (FDX) at 11%; Union Pacific (UNP) at 9% and United Parcel (UPS) at 8%.
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.