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Dow transports fall for first time in 10 trading days

The Dow Jones Transportation Average slumped 116 points, or 0.7%, with 16 of 20 components losing ground, to put the index on track for the first decline in 10 trading sessions. The nine-day win streak that is set to snap was the longest since the 11-day stretch of gains that ended on Aug. 12, 2020. The Dow transports' biggest decliner was Ryder System Inc.'s stock (R), which slumped 5.1%, the biggest one-day drop in eight months, even after the truck rental company beat third-quarter profit and revenue expectations and raised its full-year outlook. The biggest gainer was Norfolk Southern Corp.'s stock (NSC), which rose 1.1% after the railroad operator reported better-than-expected third-quarter earnings. The other three Dow transport gainers were shares of other railroad components, those of CSX Corp. (CSX), Kansas City Southern (KSU) and Union Pacific Corp. (UNP). While the Dow transports dropped, the Dow Jones Industrial Average fell 72 points, or 0.2%, while the S&P 500 gained 0.2%.

-Tomi Kilgore

 

(END) Dow Jones Newswires

10-27-21 1425ET

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