Even Buffett Can't Lift This Ugly Market


The big news of the morning was Warren Buffett’s purchase of Burlington Northern Santa Fe Corporation with his Berkshire Hathaway investment vehicle. Shares of BNSF (BNI) are up over 28% at 97.58, leading the path for other railroad companies like Union Pacific (UNP), up nearly 7% at 58.78 and CSX (CSX), up 6% at 45.47.

Meanwhile, the rest of the market has been hit hard, with nearly all the technology, consumer and financial stocks heading downward. From Microsoft (MSFT) to JP Morgan (JPM) to Bank of America (BAC) to Coca-Cola (KO), a lot of these companies are seeing one to two per cent losses or more.

A couple of select stocks are doing well despite the turmoil in the market. FedEx (FDX) is up 2% at 74.45 and cognisant Technology Solutions (CTSH) is up nearly 2.60 at 41.40. Gold is also on the rise, with the SPDR Gold Trust ETF (GLD) heading upwards past 106.

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