Market Rebounds After Early Weakness
After a weak session, railroad stocks led a late rally that lifted the market. New Haven rose over four points and other rails like Reading and Northern Pacific gained. New York and Boston activity showed wide shifts with rail strength restoring confidence, while copper and industrials fell. Atlantic Gulf reported solid earnings, and Boston & Maine posted record ton miles despite limited gains for some industrials.
MENTIONED IN THIS ARTICLE
Mest
Great Northern
Northern Pacific
Reading
New Haven
Union
New York Central
Southern Pacific
Atchison, Rock Island and Southern Railway
Steel Common
Baldwin
Mexican Petroleum
American Locomotive
Boston & Maine
Boston
New York
American Agricultural Chemical
Stewart
United Fruit
Atlantic Gulf
Market Rebound in Rail Stocks Draws Big Trades
Financial editors note a rare market surge in railroad shares with heavy turnover. Great Northern and Northern Pacific saw 5000 shares traded at clustered prices, while Union Pacific faced caution over potential government claims. Analysts foresee a possible railroad rally as commodity prices fall and regulatory relief looms, but traders must adapt from past industrial-heavy portfolios.
MENTIONED IN THIS ARTICLE
Great Northern
Northern Pacific
Atchison
New Haven
Union Pacific
Union
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