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MARKETS LIVE BLOG:

STOCKS CLIMB AS DOW POSTS 8TH STRAIGHT WIN

Fed's Michelle Bowman echoes higher-for-longer mantra for interest rates

Why Shipping Stocks Soared This Week

Lou Whiteman, The Motley Fool
Updated ·2 min read
Why Shipping Stocks Soared This Week

Shares of Triton International (NYSE: TRTN), which got a big-premium buyout offer, were up 33% for the week as of Thursday midday, according to data provided by S&P Global Market Intelligence. Shares of other shipping companies, including Zim Integrated Shipping Services (NYSE: ZIM) and Textainer Group Holdings (NYSE: TGH), are going along for the ride, up 16% and 13%, respectively. The pandemic created supply and demand imbalances that helped boost the price for transporting goods, but recently, fears about the economy have caused these stocks to underwhelm.

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