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for Women & Men! A stock market 'leading indicator' is tanking
For investors, the subsequent best thing to a fortune teller could be the Dow Jones Transportation Index. The index often referred to as "Dow Transports" for short comprises of 20 top railroad, airline, trucking and delivery services stocks. Think: Delta (DAL), FedEx (FDX) and Union Pacific (UNP).
When it goes up, other stock market often follows. Then when it goes down, well, you get the drift.
"There's anxiety among investors," says Scott Clemons, chief investment strategist at Brown Brothers Harriman. "It's like a movie the location where the main character keeps walking with the scary door. The suspense is building."
But experts say: Don't panic.
Related: Observe the chaos inside the bond market
Currency markets 2015: The Dow Transports is usually a leading indicator of the place that the stock market is headed because people and businesses ship and send more stuff once the economy (mainly the oakley sunglasses outlet clearance sale business economy) is performing well, plus they pull back when ray ban outlet store it isn't.
Stock market trading overall remains having an OK 2015. The Dow is flat, even though the S 500 expires 1% and the Nasdaq ends 5% higher.
It is all about oil: The dramatic fall in oil prices at the end of last year plus January was, to start with, a great boost to many transportation companies. Airlines are saving huge amounts of dollars on fuel and are on track to acquire their most profitable year ever.
Nevertheless the stock market priced in those gains in older times.
Now oil cost is rising again. Crude oil bottomed out just under $43 in March. Now it is back up to $60.
"The [Dow Transports] stocks are the mirror opposites of oil," says Bill Stone, chief investment strategist for PNC.
Each time the oil price goes up a bit, stocks like Southwest Airlines (LUV) take a hit. It's happening again this week as airlines are among the worst performers in the S 500.
Related: Airline profits might take off in 2015
It's a similar story for railroads.
"The railroads are performing a lot better than we were holding a few years ago, however are driven as to what they carry coal and oil are reducing," says Peter Tuz, president of Chase Investment Counsel.
His firm sold out of Union Pacific stock captured after owning it through several years of great gains.
But $60 oil remains very low by historical standards. Oil could possibly be ticking up again, cheap ray ban wayfarer yet it's certainly not on the point of choking the economy in a few sort of 1970s oil crisis. Just a year ago, oil was trading around $100 a barrel.
The Dow Transports slipping on this occasion doesn't seem to be as much of a red flag about the broader economy. It's a reflection of your beaten down energy sector that is certainly so far a mostly contained problem.
"Even if you're a believer in the Dow theory, there's what about a little less to think from them now," says Stone.
CNNMoney (The big apple) First published June 10, 2015: 6:27 AM ET
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