Dow transports rally toward 10th-straight gain, longest win streak in over 7 years

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The Dow Jones Transportation Average charged up 138 points, or 1.3%, in morning trading Tuesday to ride a 10-day win streak back into a positive territory for the year, amid increasing optimism that a new stimulus package will provide a fresh jolt to an improving economy. The Dow transports has soared 13.5% during its current win streak, would be the longest since the 10-day stretch of gains ending Jan. 28, 2013. Avis Budget Group Inc.’s stock surged 11.5% to pace the index’s gainers, as new highs in post-COVID-19 travel demand provided a boost for the auto rental company. That also helped lift the stock of all six of the index’s airline components, led by the 3.0% surge in Delta Air Lines Inc. and American Airlines Group Inc.’s 2.4% rally. Meanwhile, United Parcel Service Inc.’s stock was the index’s biggest decliner, as it shed 2.4% to snap a 5-day win streak that had lifted it to a record close on Monday. The Dow transports, on track for the first close above 11,000 since Feb. 20, is now up 0.9% year to date, while the Dow Jones Industrial Average , which is running up 268 points, or 1.0% on Tuesday, has slipped 1.7% this year.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.