Investing.com – Typically, you do not think much about railroads, but they move goods from point A to point B. [TS] Late Tuesday, CSX (NASDAQ 🙂 is operating to the east and south. It has been loudly stated that the economic uncertainty caused in part by the trade disputes between the US and China is not good for the railway business.
CSX (NASDAQ 🙂 stocks slumped more than 10% on Wednesday; other railway shares also fell. Norfolk Southern (NYSE 🙂 fell 7.5%; Union Pacific (NYSE 🙂 collapsed by 6.5%. Thus, the average fell by 3.6% ̵
The decline was 0.65%. It fell 0.4% and fell 0.46%. CSX (NASDAQ :), by far the biggest loser, saw a 0.48% decline.
The CSX losses were provided by FedEx (NYSE :), United Parcel Service (NYSE 🙂 and the shipping company  Landstar System (NASDAQ :). Truck manufacturer PACCAR (NASDAQ 🙂 said on Tuesday in CSX CEO JIm Foote's teleconference that a strong expansion of the national truck fleet would result in pressure rates for truck and railroad companies.
Stocks were not the only victims on Wednesday. Oil prices fell again. WTI crude fell 1.5% to $ 56.78 a barrel. However, it rose $ 12.10 to $ 1,423.30 an ounce after the International Monetary Fund announced that the US dollar was overvalued. That fell by 0.2%.
The values for industry, energy, chemicals and real estate were lower. Technology, health care and care went up.
Exxon Mobil (NYSE :), Chevron Corp (NYSE 🙂 and Schlumberger (NYSE 🙂 and Halliburton (NYSE 🙂 were among the losses of lower oil prices. Nordstrom (NYSE :), Macy's (NYSE 🙂 and Kohl's (NYSE 🙂 all fell.
NVIDIA (NASDAQ :), Micron Technology (NASDAQ) Intel (NASDAQ 🙂 were among the stronger technology stocks.
But the biggest technology stocks, including Microsoft (NASDAQ :), Amazon.com (NASDAQ :), Apple (NASDAQ :), the Google parent alphabet (NASDAQ :), and Cisco Systems Inc (NASDAQ 🙂 all fell lower ,
Microsoft Reports Fourth Quarter Results After Dealing on Thursday.
Interest rates fell by investors According to investors, the Federal Reserve continues to lower its policy rate by a quarter of a point at its meeting from 30 to 31 July. The Treasury yield fell from 2.12% on Tuesday to 2.059%.
Winners and Losers
Among them were the manufacturer of company uniforms Cintas (NASDAQ :), the confectionery manufacturer Hershey (NYSE 🙂 and the pharmaceutical company Abbott Laboratories (NYSE 🙂 Best S & P 500 Performers
CSX (NASDAQ :), defense company Textron (NYSE 🙂 and Norfolk Southern (NYSE 🙂 were among the worst S & P 500 performers.
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