This morning, the leading transportation stocks are falling sharply at the start of the trading session. The highly followed and popular iShares Dow Jones Transport. Avg (ETF) (NYSEARCA:IYT) is trading lower by $1.86 to $109.44 a share. Short term intra-day traders should watch for intra-day support around the $109.00, and $108.50 levels. When the transports decline sharply it is often a sign of potential economic weakness in the market. Many traders and investors will view the transportation indexes as a leading indicator.
Some leading transport stocks that are trading lower on the session include FedEx Corporation (NYSE:FDX), United Parcel Service, Inc. (NYSE:UPS), United Continental Holdings Inc (NYSE:UAL), and Union Pacific Corporation (NYSE:UNP). Last week, FDX reported earnings that were much weaker than expected. When the leading stocks struggle in a bullish stock market it is always worth noting.