Big Railroad Selloff Leaves Markets Flat

Markets were essentially flat today, with all three exchanges losing a little bit of ground. Trading held steady until late in the afternoon, when the markets lost value to end the day down. The Dow dipped -11.61 points to close at 18,116.04. The NASDAQ was down -15.45 and closed at 5,010.97. The S&P 500 lost -3.68 points and closed at 2,104.42. In overseas trading, Asian markets were up while Europe struggled. Germany's DAX lost -141.82 points to close at 11,895.84. Japan's Nikkei was up 196.07 and ended the day's trading at 19,754.36.

Health Services Stocks Continue To Overperform.  The health services sector rose by over 13% today, and has lead the market in growth for months now. has covered every corner of the sector in the past, but we're going to continue looking at some of the best opportunities for investors. VolitionRX (VNRX), a micro-cap, gained 8.75% on the day to close at $4.35 per share. Community Health Systems (CYH) gained 1.60 points to close at $54.68 per share. Lifepoint Hospitals (LPNT), which owns a chain of hospitals, gained 1.94 points and ended the day's trading at $77.60 per share.

Kansas City Southern Railroad Misses On Profits, Sparks Selloff.  The big story in the markets today was a huge selloff in railroad stocks. It was caused by a report that Kansas City Southern (KSU) would miss profit expectations this quarter. The selloff that followed hit the transportation sector hard, and caused a drop in the share price of nearly every major railroad.

Kansas City Southern (KSU) lost 8% of its value, and saw share prices fall by -9.21 points to close at $106.48 per share. Union Pacific (UNP) dropped -4.67 points today, and closed at $112.78 per share. CSX Corp (CSX) fell 4%, losing 1.46 points to close at $33.70 per share. Norfolk Southern (NSC) dipped -3.87 points and ended the day's trading at $106.56 per share. Canadian Pacific (CP), one of the largest railroads in the country, fell -3.59 points to close at $185.42. 

Tiffany & Co Rises On Bank Of America's Backing.  Luxury goods manufacturer Tiffany & Co (TIF) grew by 6% today, after Bank of America (BAC) released research saying that the company is poised to keep growing. Bank of America is optimistic that Tiffany's will reach a share price of $105 by this time next year. In trading today, Tiffany gained 4.81 points to close at $87.74 per share.

Allegheny Technologies Up Big On Growth Forecast.  American steel manufacturer Allegheny Technologies (ATI) was up today, on news that the company is forecast to grow faster than expected. Allegheny gained 1.96 points on the day, and closed at $31.50 per share.

Published on Mar 23, 2015
By Aaron Phillips
Aaron Phillips is a financial researcher and journalist based out of Michigan. He regularly writes the IG Daily and IG Weekly columns.

Copyrighted 2016. Content published with author's permission.

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