UNP, CSX, NSC: Tentative Solution To Railway Strike Likely

Looks like the railway strike is adverted, says Colin Scarola. He discusses how the Biden Administration announced a tentative agreement solution to avoid a railway strike. He talks about how the railroad union members still need to vote on the deal, but he believes this agreement will be passed. He then goes over railroad companies that are fairing the best throughout this situation, highlighting Union Pacific (UNP), CSX Corp. (CSX), Norfolk Southern (NSC), Canadian National (CNI), and Canadian Pacific (CP). He also notes that railroad stocks are in a good place right now, as oil (/CL) has fallen. Finally, he mentions how railroad companies could benefit from the new agreement. Tune in to find out more about the stock market today.