This morning's trading has marked a bad day for the market so far. The Nasdaq has declined 0.4%; the S&P 500 has fallen 0.3%; and the Dow has slipped 0.3%. The transportation sector is a category of stocks relating to the transportation of goods or customers. It is made up of airlines, railroads and trucking companies. The performance of the transportation sector is sensitive to the price of oil. Because operations revolve around the use of vehicles, fuel prices represent a significant cost to transportation companies. As the price of oil rises, transportation companies will be expected to earn less. Inversely, these companies do well when the cost of fuel decreases.
The Transportation sector (IYT) is down 0.2%, outperforming the market overall. Currently, the biggest movers in the sector are:
|Company||Market Cap||Percentage Change|
|Spirit Airlines (Nasdaq:SAVE)||$1.14 billion||+8.8%|
|AMERCO (Nasdaq:UHAL)||$2.31 billion||-4.9%|
|Seaspan (NYSE:SSW)||$974.1 million||-4.3%|
|Teekay (NYSE:TK)||$2.09 billion||-3.6%|
|JetBlue (Nasdaq:JBLU)||$1.41 billion||+3.5%|
|Teekay LNG Partners (NYSE:TGP)||$2.32 billion||-3.3%|
|Grupo Aeroportuario del Sureste (NYSE:ASR)||$2.95 billion||+2.8%|
Forex Broker Summary: UFXMarkets
Spirit Airlines (Nasdaq:SAVE) is up 8.8% to reach a current price of $17.10 per share. This morning, 527,734 shares have been traded,.
Currently trading at $111.78 per share, AMERCO (Nasdaq:UHAL) has fallen 4.9%. So far today, the company's volume is 10,181 shares.
At $14.80, Seaspan (NYSE:SSW) has slipped 4.3%. The company's volume is currently 114,754 shares for the day, 0.9 times its current three-month average.
Slipping 3.6%, Teekay (NYSE:TK) is currently trading at $29.11 per share. The company's volume for the morning is 130,057 shares. This is 0.4 times the average daily volume.
JetBlue (Nasdaq:JBLU) has moved up 3.5% and is currently trading at $5.15 per share. At 1.4 million shares, the company's volume so far today is which is likely to result in less activity than yesterday's volume of 4.1 million shares.
Teekay LNG Partners (NYSE:TGP) has fallen 3.3% and is currently trading at $34.66 per share. The company is currently trading a volume of 205,139 shares.
Rising 2.8%, Grupo Aeroportuario del Sureste (NYSE:ASR) is currently trading at $101.16 per share. At 55,264 shares, the company's volume so far today is 0.9 times its average over the past three months.
The Bottom Line The nature of the market is such that stocks will have good days and bad days. Daily stock performance should be weighed against historical performance and put in context of the market overall. Keep in mind that all these ratios should be compared against historical numbers and industry information in order to get a more complete picture.