Many think railroads are an icon of the past, but most U.S. freight tonnage goes by rail.
Railroads are fantastic plays (maybe not now because of valuations). Buffett is involved in several. UPS sends a lot of their ground packages via rail (through Chicago).
T-5 minutes until NFP
Consensus +220K
U3 6.1%
+142K huge miss
U3 6.1%
Worst print of 2014 - participation rate fell so U3 declined. This is a bad report so put it on that side of the ledger :-)
The sheer tonnage that the RRs move is phenomenal. The future will have to put their thinking cap on to replace that icon of the past.
August jobless rate for people 25+ with
Bachelor’s degree or more: 3.2%
Some college: 5.4%
High school grads: 6.2%
No h.s. diploma: 9.1%