Union Pacific And The Railroads Weigh On Transports

Aug. 07, 2013 11:02 AM ETCSX
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This morning, most of the leading railroad stocks are declining at the start of the trading session. This move lower in the railroad stocks is certainly putting pressure on the transportation sector. Some of the leading railroad stocks that are falling on the session include Union Pacific Corporation (NYSE:UNP), Kansas City Southern (NYSE:KSU), Genesee & Wyoming Inc (NYSE:GWR), and Canadian Pacific Railway Limited (USA) (NYSE:CP).

Today, the iShares Dow Jones Transport Avg. (ETF) (NYSEARCA:IYT) is trading lower by $1.30 to $115.20 a share. Day traders can watch for intra-day support around the $114.50 level, this is the spot where traders could see a bounce.

Nicholas Santiago

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