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This stock market index is almost like a crystal ball
The Transports are on a tear, and that’s good news for all equity investors. Since the stock market’s lows last week, the Dow Jones Transportation Average DJT, +0.32% the formal name for the Transports, has been one of the strongest of the broad-market averages, gaining 10%. That’s nearly triple the comparable gain for the Dow Jones Industrial Average DJIA, +0.10% and more than double that of the S&P 500 Index SPX, +0.07% The reason this is such encouraging news: The Transports are often considered a leading indicator of economic weakness, on the theory that transportation companies should be among the ... (full story)