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 , 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 , 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. , Kansas City Southern and Union Pacific Corp. . While the Dow transports dropped, the Dow Jones Industrial Average fell 72 points, or 0.2%, while the S&P 500 gained 0.2%.
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