NZD/USD – Use .7162 as the Pivot

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Best and Worst Performers in XTN for the 5-Day Period Ending July 2 Transportation ETFs have lagged the S&P 500 Transportation ETFs lagged the S&P 500 after outperforming the market for three consecutive years from 2012 to 2015—driven by a recovering economy, rising corporate profits, lower oil prices, and higher passenger and shipment volumes. Due to these trends, transportation stocks that are part of the SPDR Transportation ETF (XTN) yielded average total returns of 34.8% over the past three years on a compound basis. This is in comparison to market returns, as determined by the SPDR S&P 500 ETF (SPY), of 20.3% over the same investment horizon. In contrast, so far in 2015, the sector has experienced a rather tumultuous phase. Its performance has been hit hard by various factors including investor euphoria surrounding the impact on profitability from unsold additional capacity in passenger airlines. It was also hit by weak industrial production in 1H15. This affected the performance of railroads and trucking operators. As a result, XTN has generated negative returns of 10.82%, over the last six months—compared to SPY’s return of 1.90% over the same period. The US equity market has been impacted by softer growth in economic output in 1H15. It has also has been impacted by transient factors—mainly the recent debt crisis in Greece. This has dwindled gains made by US equities during the year. The iShares Transportation ETF (IYT) serves as a closer proxy for the Dow Jones Transportation Average Index. It delivered negative returns of 10.94%. Performance over the last week In the last five trading days, XTN’s performance has continued to lag behind the overall market. It fell 2.78% compared to SPY falling 1.43%. The biggest gainers last week were trucking operators. Marten Transports (MRTN), Saia (SAIA), and Landstar System (LSTR) gained 4.10%, 2.45%, and 1.77%, respectively, over the last five trading days ending July 1, 2015. Meanwhile, among the ETF’s constituents, car rental companies Hertz Global Holdings (HTZ) and Avis Budget Group (CAR) witnessed the largest falls. They fell by 8.58% and 13.23%, respectively. We’ll explore these stocks in more detail in the next few parts of this series to get better insight on their performance and whether it makes sense to hold them in your portfolio. Continue to Next Part Browse this series on Market Realist: Part 2 - Analyzing Institutional Investor Activity among the Largest Gainers Part 3 - What Investors Should Know about the Trucking Industry Part 4 - Why Car Rental Companies Generated Appalling Returns View comments
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