A Wall Street sign is seen in front of the New York Stock Exchange. Chattanooga companies showed mixed results in the first half of the year.
Change in local stock performance so far this year.Wall Street wrapped up its sixth consecutive quarter of higher stock prices on Monday – the longest streak for stock market gains in 14 years.
Only half of Chattanooga’s publicly traded stocks showed increases in the first half of the year. But investing in trucking and industrial companies in Chattanooga so far this year has proven profitable for many investors.
At the midpoint of 2014, shares in trucking giant Covenant Transport have jumped nearly 57 percent so far this year after Covenant bounced back some from its prevous market decines. Paving equipment maker Astec Industries and wrecker maker Miller Industries also had double-digit gains in the first six months of the year.
Despite those gains outpacing the overall market, two of the region’s biggest publicly traded companies — Unum Group and Mohawk Industries — showed market declines in the first half of 2014 after strong gains through 2013.
After the S&P 500’s 30 percent gain last year, many investors had expected a halt to an equity bull market that is now in its fifth year.