The Dow Jones Transportation Average shot up 101 points, or 1.0%, in midday trade Thursday, with 18 of 20 components gaining ground, bucking the slight weakness in its industrials counterpart. The Dow Jones Industrial Average was down 15 points, or 0.1%. Many market watchers view the Dow transports and Dow industrials as having a symbiotic relationship, the idea being one tracks companies that take the things that the companies in the other index makes. The indexes’ correlation coefficient is 0.9601 over the past 20 years, and 0.9775 over the past 10 years, according to an analysis of FactSet data. Among the Dow transports’ biggest gainers on Thursday, shares of United Parcel Service Inc. rallied 3.5%, CSC Corp. climbed 2.9% and Ryder Systems Inc. advanced 1.4%.
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