Business News

Uncertainty Reigns

CSX, the third-largest U.S. railroad, reported higher Q4 profits and expect a strong increase in its freight business and double-digit earnings growth during 2015. Profits rose on the back of an 11% rise in coal shipments and a 5% increase in agricultural, chemical and construction product shipments. CSX said the main driver for the rise in its chemicals business came from crude oil shipments to East Coast refineries due to increased supply of crude oil from domestic shale drilling activity. (Reuters)

Holiday sales rose 4.0% to $616.1 billion according to the National Retail Federation. It marked the first time since 2011 that holiday sales increased more than 4%. On average, holiday sales have grown 2.9% over the past 10 years.

US December retail sales fell 0.9% as gas prices plummet.  Declining gasoline prices weighed on service station sales, with receipts falling 6.5% the biggest decline since December 2008. (CNBC)

The yield on the U.S. 30-year Treasury bond fell to record low and the U.S. 10-year Treasury yield fell below October lows to hit a full-year low on Wednesday. The yield on the 10-year bond briefly touched 1.784%—its lowest level since May 2013. The yield on the government's 30-year bond fell to a record low of 2.395%, surpassing the previous record low of 2.443% set in July 2012. (Tradeweb)

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