Dow transports enjoy unanimous rally, led by Avis Budget, American Airlines

The Dow Jones Transportation Average powered up 2.6% in midday trading Tuesday, with all 20 components gaining ground. The biggest boost to the index was Avis Budget Group Inc.’s stock , which hiked up 7.0%. The stock’s price gain of $18.52 was adding about 113 points to the Dow transports’ price, which was up 378 points. The next best performers were air carriers, which appeared to get a boost after a federal judge struck down the U.S. face mask mandate covering airlines. Shares of American Airlines Group Inc. rallied 6.6%, United Airlines Holdings Inc. climbed 4.5% and JetBlue Airways Corp. jumped 4.0%. United is slated to report first-quarter earnings on Wednesday and American is scheduled to report results on Thursday. The Dow transports are outperforming the Dow Jones Industrial Average by a wide margin, as the Dow industrials rose 407 points, or 1.2%.

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