Investors keep looking for signs that the stock market may not be all that it’s cracked up to be. Despite record highs, savvy investors continue to try and hedge their bets against any future downturn or crash.
A story that appeared on CNBC today suggests that you don’t have to look beyond the nation’s railroad industry for strong clues that signal “bad news ahead” for the U.S. economy. According to the report- Shares of Union Pacific dropped nearly 7% after reporting its 6th consecutive quarter of earnings-per-share decline. And Union Pacific’s fellow rail stocks slipped along with it; shares of CSX, Norfolk Southern and FreightCar America all fell, and this decline in the rails could be sending negative signs about the state of the economy
Justin Long, managing director and research analyst at Stephens told “Trading Nation”:
“Honestly, if you look at rail shipment volumes over the last couple of years, you would be very worried about where we are headed. Rails can be a good indicator of the overall economy’s health, given the group of commodities they carry. You could make the argument that we’ve been in a ‘freight recession’ the last year and a half to two years, and it would be indicative of a slowly growing economy.”
Watch the entire report below.
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