The Dow Jones Transportation Average (DJX:DJT) rallied 44 points, or 0.4%, in afternoon trading Thursday, with 13 of 20 components gaining ground, to defy the selloff suffered by the broader market indexes. The Dow transports were being led higher by shares of Avis Budget Group Inc. (NAS:CAR) , which shot up 14% after the car rental company reported fourth-quarter earnings that beat expectations and provided an upbeat sales forecast. The stock's price gain of $6.03 was adding about 37 points to the Dow transports's price. Avis's stock was on track for the highest close since April 2018. Meanwhile, the Dow Jones Industrial Average (DOW:DJIA) slumped 215 points, or 0.7%, with 22 of 30 components losing ground.
Feb. 20, 2020, 1:50 p.m. EST