Stifel’s head of equity strategy thinks the stock market will be weak for the next decade and that the federal government will default on debt unless it can force access into Chinese markets.
The Dow Jones Industrial Average plummeted today, posting its biggest loss since May 29; meanwhile the S&P 500 is on a losing streak that hasn’t been matched in upwards of 2 years.
A tanker barge operator, a Jones Act steamship line, and North America’s largest 3PL all posted big gains on the day, leading Dow Transports to a record intraday high against a softening broader equities market.
Transport stocks outperforming broader economy; FedEx adds robots to distribution centers; Knight-Swift picks up a 400 truck fleet; CMA CGM turned around in 2017; Union Pacific’s drones monitoring workers cause union trouble.
Strong economic fundamentals in the U.S. and globally are driving the second-longest bull market since the 1920s. Could the driver shortage ultimately end it all?
