Railroad giant CSX says it expects the subdued shipping trends it
saw last quarter will continue the rest of the year. On an earnings
call, the railroad’s executives said higher prices for essentials are
leaving less cash for consumers to spend on other items. Retailers
are also wary of overstocked warehouses, seen last year overflowing
with items like TVs and clothing.
Oil prices are on track for their 2 nd straight week of gains on fears the
Israel-Gaza crisis may disrupt supply from one of the world’s top-
producing regions. The US benchmark – West Texas Intermediate – is
up more than 1-percent today to climb above 90-dollars.
On Wall Street, futures are lower as investors keep their eye on the
bond market. Overnight, the yield on the 10-year Treasury crossed
above 5-percent for the first time since 2007.
