(The Associated Press circulated the following on March 18.)
NEW YORK — Shares of most trucking companies and railroads sustained earlier gains on Tuesday afternoon, after the Federal Reserve reduced the federal funds rate by three-quarters of a percentage point to 2.25 percent.
Wall Street had largely been hoping for a full-point reduction.
Here’s how shares of truckers and railroads in the Standard & Poor’s 500 index performed Tuesday afternoon:
Union Pacific Corp., up $3.92, or 3.2 percent, to $126.11.
Norfolk Southern Corp., up $1.77, or 3.3 percent, to $54.73.
Burlington Northern Santa Fe Corp., up $1.78 to $92.90.
CSX Corp., up $2.17, or 4 percent, to $53.40. The stock was lifted to “Buy” from “Neutral” by a UBS analyst before the bell Tuesday.
Ryder System Inc., up $1.92, or 3.3 percent, to $60.52.