This is the key group of stocks to watch if the port strike drags on this month

A look back in history shows how a key group of transportation stocks performed the last time there was a major port strike, according to Wolfe Research. On Tuesday, 50,000 members of the International Longshoremen's Association , the largest longshoremen's union in North America, went on strike at 14 major ports along the Gulf of Mexico and Eastern Seaboard, affecting billions of dollars in trade as well as roughly half of all U.S. trade activity.

Against that backdrop, Scott Group, a senior analyst covering freight transportation at Wolfe, looked at transportation stocks in 2002, the last time there was a major port strike in the U.S. That strike, which lasted just 11 days and affected only West Coast ports, hurt transportation stocks throughout the protest, he said. But those same stocks staged a major comeback in the month after the strike ended. Here are how some key stocks performed during and after the last major strike. C.H.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

These are the top stocks to own for rest of the year, according to Wolfe ResearchThe firm released its Wolfe Alpha List for September, which includes three additions and four removals from its previous run down.
Source: CNBC - 🏆 12. / 72 Read more »

These 2024 losing stocks are contenders for selling – and they can help cut taxes, Wolfe saysThere are a few stocks that are sitting out the rally, and they could see further declines as investors dump them for tax-loss harvesting season, the firm says.
Source: CNBC - 🏆 12. / 72 Read more »