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Dow transports bucks broader stock market weakness, boosted by airlines and truckers

Tomi Kilgore

The Dow Jones Transportation Average rallied 0.6% in midday trade, boosted by strength in its airline components, to buck the selloff in the broader stock market. Of the transports tracker's 20 components, 17 were trading higher, with United Continental Holdings Inc.'s stock pacing the advancers with a 1.8% gain. Among the other biggest gainers, shares of trucker C.H. Robinson Worldwide Inc. climbed 1.8%, American Airlines Group Inc. rallied 1.7%, trucker Expeditors International of Washington Inc. advanced 1.3%, FedEx Corp. tacked on 1.2% and Delta Air Lines Inc. gained 1%. The NYSE Arca Airline Index rose 0.9%. A selloff in crude oil futures helped lift hopes for lower fuel prices for air carriers. The transports' climb comes despite a 24-point, or 0.1% drop, in the Dow Jones Industrial Average and the Nasdaq Composite's 0.3% decline.