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NEW YORK — Shares of major trucking companies and package shippers rose Wednesday, as investors took heart from better-than-expected durable goods orders in May.
The Commerce Department said orders for durable goods — defined as things that last three years or more — rose 1.8 percent in May. Economists surveyed by Thomson Reuters anticipated a drop.
The Dow Jones Transportation Average rose 3.2 percent in midday trading, with all 20 component stocks higher.
FedEx shares rose $2.86, or 5.6 percent, to $53.61. UPS added $1.17, or 2.5 percent, at $48.37.
Arkansas Best gained 73 cents, or 2.7 percent, at $27.88. Celadon picked up 85 cents, or 10.6 percent, at $8.89. Con-way rose $2.01, or 6.2 percent, to $34.37. JB Hunt rose $1.15, or 3.9 percent, to $30.74. Old Dominion added 93 cents, or 3 percent, at $32.44. Werner Enterprises gained 38 cents, or 2.2 percent, at $17.85. YRC Worldwide rose 20 cents, or 12.7 percent, at $1.77.
