The Dow Jones Transportation Average DJT, +0.73% is rallying Thursday, even as most of its components are falling, as the economically sensitive index is defying the selloff in the broader stock market. The index is up 0.5% in afternoon trading with 9 of 20 components rising, while its sister index, the Dow Jones Industrial Average DJIA, +0.04% sank 335 points, or 1.0%, with just seven of 30 components risingh, and the S&P 500 SPX, -0.84% dove 1.2%. Within the Dow transports, the biggest gainers were shares of diesel engine maker Kirby Corp. KEX, +2.41%, up 2.8%, and railroad operators Norfolk Southern Corp. NSC, +2.11%, up 2.3%, and Union Pacific Corp. UNP, +1.82%, up 2.2%. Meanwhile, the transports’ decliners were led by the 1.4% drop in air carrier Delta Air Lines Inc.’s stock DAL, -1.29% and the 1.3% drop in truck rental company Ryder System Inc.’s stock R, -1.24%.
