One of the leading transportation stock in the world is FedEx Corp (FDX). Last week, this stock reported earnings that were below analysts expectations. The company also cited weaker demand internationally. Today, FDX stock is declining lower by $1.57 to $96.88 a share. Short term traders should watch for intra-day support around the $95.30, and $93.69 levels. FDX stock is also trading below the important daily chart 50 moving average which puts the stock in a weak technical position.
Some other leading transportation stocks that are declining lower today include Union Pacific Corporation (UNP), Delta Air Lines Inc (DAL), and United Parcel Service Inc (UPS). Please understand, FDX stock is the most important transportation stock in the industry group.