(The Associated Press circulated the following on September 18.)
NEW YORK — Shares of railroads mostly rose Thursday as the broader market gained modestly, a day after losing the most ground since the Sept. 11 attacks.
Investors nerves were somewhat culled as the Federal Reserve and other major global central banks joined together to inject as much as $180 billion into global money markets in an attempt to keep the credit crisis from spreading further.
Railroads are sometimes viewed as defensive stocks because they haul freight including oil, chemicals and metals.
In morning trading, shares of Union Pacific rose a penny to $72.77, while Burlington Northern Santa Fe Corp. gained 87 cents to $97.10.
CSX gained $1.38, or 2.6 percent, to $54.38. Norfolk Southern lost 2 cents to hit $67.52.