CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities. In addition, the company provides intermodal services through a network of approximately 30 terminals transporting manufactured consumer goods in containers; and drayage services, including the pickup and delivery of intermodal shipments. It serves the automotive industry with distribution centers and storage locations, as well as connects non-rail served customers through transferring products, such as plastics and ethanol from rail to trucks. The company operates approximately 20,000 route mile rail network, which serves various population centers in 26 states east of the Mississippi River, the District of Columbia, and the Canadian provinces of Ontario and Quebec, as well as owns and leases approximately 3,500 locomotives. It serves production and distribution facilities through track connections. CSX Corporation was incorporated in 1978 and is headquartered in Jacksonville, Florida.

CSX Corporation

Investors closely monitor insider buys, as they can give hints surrounding the long-term picture.
But it’s critical to note that insiders have a longer holding period than most, and many strict rules apply to their transactions.
Recently, CEOs of several companies – Fifth Third Bancorp FITB Fidelity National Information Services FIS, and CSX CSX – have made splashes, acquiring shares. Let’s take a closer look at the transactions for those interested in trading like the insiders.
Fifth Third Bancorp
CEO Evan Bayh recently scooped up 3k FITB shares at a total transaction cost of just under $125k. Shares have underperformed YTD so far, gaining 2.3% compared to the S&P 500’s 16% gain.
Image Source: Zacks Investment Research
CSX
The CEO of CSX recently made a big splash, acquiring 55k shares at a total transaction value of roughly $2 million. Like FITB, shares have underperformed relative to the S&P 500 in 2025, gaining 11%.
Image Source: Zacks Investment Research
Fidelity National Information Services
The CEO of FIS recently bought roughly 900 shares at a total transaction cost of just above $60k. Shares have largely struggled in 2025, down 15% and widely underperforming.
Image Source: Zacks Investment Research
Bottom Line
Many investors closely monitor insider buys, seeking insights into the longer-term picture. The transactions shouldn’t be relied on for near-term performance, as insiders’ holding periods are longer than most, and many strict rules apply.
Rather, investors can see insider buys as an overall net positive concerning the longer-term outlook.
All large-cap stocks above – Fifth Third Bancorp FITB, Fidelity National Information Services FIS, and CSX CSX – have seen their respective CEOs make purchases over the last month.
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CSX Corporation (CSX) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Insider Buys: 3 CEOs Buying Shares

As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
On Monday, CSX's CEO, Stephen F. Angel, made a $2.03M buy of CSX, purchasing 55,000 shares at a cost of $36.87 a piece. Investors can bag CSX at a price even lower than Angel did, with the stock changing hands as low as $35.96 in trading on Wednesday which is 2.5% under Angel's purchase price. CSX is trading up about 1.3% on the day Wednesday. This buy marks the first one filed by Angel in the past year.
And at Pinnacle Financial Partners, there was insider buying on Monday, by Director G. Kennedy Thompson who bought 5,000 shares for a cost of $87.63 each, for a trade totaling $438,150. Before this latest buy, Thompson made one other buy in the past year, purchasing $856,500 shares at a cost of $85.65 each. Pinnacle Financial Partners is trading up about 0.1% on the day Wednesday. Thompson was up about 1.8% on the buy at the high point of today's trading session, with PNFP trading as high as $89.24 at last check today.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Wednesday 10/22 Insider Buying Report: CSX, PNFP

Fintel reports that on October 20, 2025, Baird maintained coverage of CSX (NasdaqGS:CSX) with a Outperform recommendation.
Analyst Price Forecast Suggests 5.88% Upside
As of September 29, 2025, the average one-year price target for CSX is $38.81/share. The forecasts range from a low of $27.27 to a high of $45.15. The average price target represents an increase of 5.88% from its latest reported closing price of $36.66 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for CSX is 15,393MM, an increase of 8.99%. The projected annual non-GAAP EPS is 2.15.
What is the Fund Sentiment?
There are 2,692 funds or institutions reporting positions in CSX. This is an increase of 22 owner(s) or 0.82% in the last quarter. Average portfolio weight of all funds dedicated to CSX is 0.29%, an increase of 4.53%. Total shares owned by institutions increased in the last three months by 0.19% to 1,642,352K shares. The put/call ratio of CSX is 0.38, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 60,381K shares representing 3.24% ownership of the company. In its prior filing, the firm reported owning 60,883K shares , representing a decrease of 0.83%. The firm decreased its portfolio allocation in CSX by 1.89% over the last quarter.
Jpmorgan Chase holds 56,476K shares representing 3.03% ownership of the company. In its prior filing, the firm reported owning 76,299K shares , representing a decrease of 35.10%. The firm decreased its portfolio allocation in CSX by 26.50% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 53,320K shares representing 2.86% ownership of the company. In its prior filing, the firm reported owning 53,583K shares , representing a decrease of 0.49%. The firm decreased its portfolio allocation in CSX by 1.98% over the last quarter.
Geode Capital Management holds 42,279K shares representing 2.27% ownership of the company. In its prior filing, the firm reported owning 42,887K shares , representing a decrease of 1.44%. The firm decreased its portfolio allocation in CSX by 2.67% over the last quarter.
Invesco Qqq Trust, Series 1 holds 38,760K shares representing 2.08% ownership of the company. In its prior filing, the firm reported owning 39,020K shares , representing a decrease of 0.67%. The firm decreased its portfolio allocation in CSX by 7.18% over the last quarter.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Baird Maintains CSX (CSX) Outperform Recommendation

Fintel reports that on October 17, 2025, UBS maintained coverage of CSX (NasdaqGS:CSX) with a Buy recommendation.
Analyst Price Forecast Suggests 6.07% Upside
As of September 29, 2025, the average one-year price target for CSX is $38.81/share. The forecasts range from a low of $27.27 to a high of $45.15. The average price target represents an increase of 6.07% from its latest reported closing price of $36.59 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for CSX is 15,393MM, an increase of 8.99%. The projected annual non-GAAP EPS is 2.15.
What is the Fund Sentiment?
There are 2,692 funds or institutions reporting positions in CSX. This is an increase of 13 owner(s) or 0.49% in the last quarter. Average portfolio weight of all funds dedicated to CSX is 0.29%, an increase of 5.92%. Total shares owned by institutions decreased in the last three months by 0.15% to 1,646,817K shares. The put/call ratio of CSX is 0.38, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 60,381K shares representing 3.24% ownership of the company. In its prior filing, the firm reported owning 60,883K shares , representing a decrease of 0.83%. The firm decreased its portfolio allocation in CSX by 1.89% over the last quarter.
Jpmorgan Chase holds 56,476K shares representing 3.03% ownership of the company. In its prior filing, the firm reported owning 76,299K shares , representing a decrease of 35.10%. The firm decreased its portfolio allocation in CSX by 26.50% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 53,320K shares representing 2.86% ownership of the company. In its prior filing, the firm reported owning 53,583K shares , representing a decrease of 0.49%. The firm decreased its portfolio allocation in CSX by 1.98% over the last quarter.
Geode Capital Management holds 42,279K shares representing 2.27% ownership of the company. In its prior filing, the firm reported owning 42,887K shares , representing a decrease of 1.44%. The firm decreased its portfolio allocation in CSX by 2.67% over the last quarter.
Invesco Qqq Trust, Series 1 holds 38,760K shares representing 2.08% ownership of the company. In its prior filing, the firm reported owning 39,020K shares , representing a decrease of 0.67%. The firm decreased its portfolio allocation in CSX by 7.18% over the last quarter.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

UBS Maintains CSX (CSX) Buy Recommendation

Fintel reports that on October 17, 2025, TD Cowen maintained coverage of CSX (NasdaqGS:CSX) with a Buy recommendation.
Analyst Price Forecast Suggests 6.07% Upside
As of September 29, 2025, the average one-year price target for CSX is $38.81/share. The forecasts range from a low of $27.27 to a high of $45.15. The average price target represents an increase of 6.07% from its latest reported closing price of $36.59 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for CSX is 15,393MM, an increase of 8.99%. The projected annual non-GAAP EPS is 2.15.
What is the Fund Sentiment?
There are 2,692 funds or institutions reporting positions in CSX. This is an increase of 13 owner(s) or 0.49% in the last quarter. Average portfolio weight of all funds dedicated to CSX is 0.29%, an increase of 5.92%. Total shares owned by institutions decreased in the last three months by 0.15% to 1,646,817K shares. The put/call ratio of CSX is 0.38, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 60,381K shares representing 3.24% ownership of the company. In its prior filing, the firm reported owning 60,883K shares , representing a decrease of 0.83%. The firm decreased its portfolio allocation in CSX by 1.89% over the last quarter.
Jpmorgan Chase holds 56,476K shares representing 3.03% ownership of the company. In its prior filing, the firm reported owning 76,299K shares , representing a decrease of 35.10%. The firm decreased its portfolio allocation in CSX by 26.50% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 53,320K shares representing 2.86% ownership of the company. In its prior filing, the firm reported owning 53,583K shares , representing a decrease of 0.49%. The firm decreased its portfolio allocation in CSX by 1.98% over the last quarter.
Geode Capital Management holds 42,279K shares representing 2.27% ownership of the company. In its prior filing, the firm reported owning 42,887K shares , representing a decrease of 1.44%. The firm decreased its portfolio allocation in CSX by 2.67% over the last quarter.
Invesco Qqq Trust, Series 1 holds 38,760K shares representing 2.08% ownership of the company. In its prior filing, the firm reported owning 39,020K shares , representing a decrease of 0.67%. The firm decreased its portfolio allocation in CSX by 7.18% over the last quarter.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

TD Cowen Maintains CSX (CSX) Buy Recommendation

Fintel reports that on October 17, 2025, Jefferies maintained coverage of CSX (NasdaqGS:CSX) with a Buy recommendation.
Analyst Price Forecast Suggests 6.07% Upside
As of September 29, 2025, the average one-year price target for CSX is $38.81/share. The forecasts range from a low of $27.27 to a high of $45.15. The average price target represents an increase of 6.07% from its latest reported closing price of $36.59 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for CSX is 15,393MM, an increase of 8.99%. The projected annual non-GAAP EPS is 2.15.
What is the Fund Sentiment?
There are 2,692 funds or institutions reporting positions in CSX. This is an increase of 13 owner(s) or 0.49% in the last quarter. Average portfolio weight of all funds dedicated to CSX is 0.29%, an increase of 5.92%. Total shares owned by institutions decreased in the last three months by 0.15% to 1,646,817K shares. The put/call ratio of CSX is 0.38, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 60,381K shares representing 3.24% ownership of the company. In its prior filing, the firm reported owning 60,883K shares , representing a decrease of 0.83%. The firm decreased its portfolio allocation in CSX by 1.89% over the last quarter.
Jpmorgan Chase holds 56,476K shares representing 3.03% ownership of the company. In its prior filing, the firm reported owning 76,299K shares , representing a decrease of 35.10%. The firm decreased its portfolio allocation in CSX by 26.50% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 53,320K shares representing 2.86% ownership of the company. In its prior filing, the firm reported owning 53,583K shares , representing a decrease of 0.49%. The firm decreased its portfolio allocation in CSX by 1.98% over the last quarter.
Geode Capital Management holds 42,279K shares representing 2.27% ownership of the company. In its prior filing, the firm reported owning 42,887K shares , representing a decrease of 1.44%. The firm decreased its portfolio allocation in CSX by 2.67% over the last quarter.
Invesco Qqq Trust, Series 1 holds 38,760K shares representing 2.08% ownership of the company. In its prior filing, the firm reported owning 39,020K shares , representing a decrease of 0.67%. The firm decreased its portfolio allocation in CSX by 7.18% over the last quarter.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Jefferies Maintains CSX (CSX) Buy Recommendation

The S&P 500 Index ($SPX) (SPY) on Friday closed up +0.53%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.52%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.65%. December E-mini S&P futures (ESZ25) rose +0.55%, and December E-mini Nasdaq futures (NQZ25) rose +0.70%.
Stock index futures recovered from sharp overnight losses and moved higher on Friday as banking worries and trade tensions eased. Solid earnings results from regional banks on Friday lifted market sentiment after Truist Financial and Fifth Third Bancorp reported better-than-expected Q3 earnings. Regional bank stocks had tumbled on Thursday amid concerns about the credit quality of regional banks, sparked by news that Zions Bancorp and Western Alliance Bancorp were victims of fraud involving loans to funds that invest in distressed commercial mortgages.
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Stock indexes also garnered support on Friday as China-US trade tensions eased slightly after President Trump said current tariffs on China were “not sustainable” and affirmed that he will meet with Chinese President Xi Jinping at the end of the month in South Korea. Stocks added to their gains Friday afternoon when Treasury Secretary Bessent expressed optimism that upcoming talks with China’s leaders could yield a broader trade deal.
Dovish comments on Friday from St. Louis Fed President Alberto Musalem were supportive for stocks when he said he estimates current Fed policy to be “somewhere between modestly restrictive and neutral,” and he could support another interest rate cut to bolster a slowing labor market.
The escalation of trade tensions between the US and China, the ongoing US government shutdown, and fears about credit quality in the US have sparked a buying spree in precious metals as a haven, with gold and silver reaching fresh all-time highs on Friday. However, both metals plunged on Friday as the easing of trade tensions and stabilization of bank stocks prompted long liquidation in precious metals.
The shutdown of the US government continues, weighing on market sentiment and delaying key economic reports. The government shutdown means delays in the release of government reports, including the last three weeks of weekly initial unemployment claims, the Aug US trade report, and the Sep payroll report. Last Friday, the Bureau of Labor Statistics (BLS) said the September consumer price report, which was originally scheduled to be released on Wednesday, will be released on October 24. The White House has warned that if the government shutdown lingers, it would trigger widespread dismissals of employees in government programs that don’t align with President Trump’s priorities. Bloomberg Economics estimates that 640,000 federal workers will be furloughed during the shutdown, which would expand jobless claims and push the unemployment rate up to 4.7%.
The markets this week will focus on earnings results as the Q3 earnings season begins. Rising corporate earnings expectations are a bullish backdrop for stocks. According to Bloomberg Intelligence, 78% of the S&P 500 companies that have reported so far have beaten forecasts. Also, more than 22% of companies in the S&P 500 that provided guidance for their Q3 earnings results are expected to beat analysts’ expectations, the highest in a year. However, Q3 profits are expected to have risen by +7.2% y/y, the smallest increase in two years. Also, Q3 sales growth is projected to slow to +5.9% y/y from 6.4% in Q2.
The markets are pricing in a 100% chance of a -25 bp rate cut at the next FOMC meeting on Oct 28-29.
Overseas stock markets settled lower on Friday. The Euro Stoxx 50 closed down -0.79%. China’s Shanghai Composite closed down -1.95%. Japan’s Nikkei Stock 225 closed down -1.44%.
Interest Rates
December 10-year T-notes (ZNZ5) on Friday closed down -9 ticks. The 10-year T-note yield rose +2.8 bp to 4.003%. Dec T-notes fell from a 6.25-month high on Friday and turned lower, and the 10-year T-note yield rebounded from a 6.25-month low of 3.934% and moved higher.
T-notes gave up overnight gains and turned lower on Friday after several regional bank stocks reported better-than-expected Q3 earnings, which eased concerns over credit quality in regional banks, improved market sentiment, and sparked long liquidation in T-notes. Additionally, the easing of US-China trade tensions has curbed safe-haven demand for government debt securities and weighed on T-notes on Friday, following President Trump’s statement that the high tariffs he has threatened to impose on China are unsustainable.
T-notes have support from the ongoing US government shutdown, which could lead to additional job losses, reduced consumer spending, and a weakened US economy, potentially allowing the Fed to continue cutting interest rates. T-notes also garnered support Friday on dovish comments from St. Louis Fed President Alberto Musalem, who said he could support another interest rate cut to bolster a slowing labor market.
European government bond yields on Friday finished higher. The 10-year German bund yield recovered from a 3.5-month low of 2.523% and finished up +1.0 bp to 2.580%. The 10-year UK gilt yield recovered from a 3.5-month low of 4.451% and finished up +3.0 bp to 4.531%.
Eurozone Sep core CPI was revised upward by +0.1 to a 5-month high of 2.4% y/y from the previously reported 2.3% y/y.
ECB Governing Council member Simkus said, “downside risks to both growth and inflation” may require the ECB to lower interest rates further in the months ahead.
Swaps are discounting a 2% chance for a -25 bp rate cut by the ECB at its next policy meeting on October 30.
US Stock Movers
Most of the Magnificent Seven technology stocks rallied on Friday and lent support to the overall market. Tesla (TSLA) closed up more than +2% and Apple (AAPL) closed up more than +1%. Also, Nvidia (NVDA) closed up +0.78%, Alphabet (GOOGL) closed up +0.76%, Meta Platforms (META) closed up +0.68%, and Microsoft (MSFT) closed up +0.39%.
American Express (AXP) closed up more than +7% to lead gainers in the Dow Jones Industrials after reporting Q3 EPS of $4.14, stronger than the consensus of $3.99.
Zions Bancorp (ZION) closed up more than +5% after Baird upgraded the stock to outperform from neutral with a price target of $65.
Jeffries Financial Group (JEF) closed up more than +5% after Oppenheimer & Co. upgraded the stock to outperform from market perform with a price target of $81.
Truist Financial (TFC) closed up more than +3% after reporting Q3 non-interest income of $1.56 billion, better than the consensus of $1.49 billion.
Ally Financial (ALLY) closed up more than +3% after reporting Q3 adjusted EPS of $1.15, stronger than the consensus of $1.00.
CSX Corp (CSX) closed up more than +1% after reporting Q3 revenue of $3.59 billion, better than the consensus of $3.57 billion.
Fifth Third Bancorp (FITB) closed up more than +1% after reporting Q3 net interest income of $1.53 billion, above the consensus of $1.52 billion.
Chipmakers and AI infrastructure stocks moved lower on Friday on long liquidation following their recent blistering rallies. Oracle (ORCL) closed down more than -6% and Super Micro Computer (SMCI) closed down more than -3%. Also, ARM Holdings Plc (ARM) closed down more than -3% to lead losers in the Nasdaq 100. In addition, Broadcom (AVGO), NXP Semiconductors NV (NXPI), Applied Materials (AMAT), Arista Networks (ANET), and Dell Technologies (DELL) closed down more than -1%.
Mining stocks tumbled on Friday after gold prices dropped by more than 1% and silver prices sank by more than 5%. Kinross Gold (KGC) closed down more than -9% and Newmont (NEM) closed down more than -7% to lead losers in the S&P 500. Also, Barrick Mining (B) closed down more than -6% and Freeport-McMoRan (FCX) closed down more than -1%.
AST SpaceMobile (ASTS) closed down more than -6% after Barclays double-downgraded the stock to underweight from overweight with a price target of $60.
Eli Lilly (LLY) closed down more than 2% after President Trump announced that the White House will negotiate the price of the diabetes drug Ozempic down to as low as $150 a month.
State Street Corp (STT) closed down more than -1% after reporting Q3 net interest income of $715 million, below the consensus of $731.3 million.
Earnings Reports(10/20/2025)
AGNC Investment Corp (AGNC), BOK Financial Corp (BOKF), Cleveland-Cliffs Inc (CLF), Crown Holdings Inc (CCK), RLI Corp (RLI), Steel Dynamics Inc (STLD), Summit Therapeutics Inc (SMMT), W R Berkley Corp (WRB), Wintrust Financial Corp (WTFC), Zions Bancorp NA (ZION).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Settle Higher as Bank Worries and Trade Tensions Recede

The S&P 500 Index ($SPX) (SPY) today is down -0.07%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.04%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.20%. December E-mini S&P futures (ESZ25) are down -0.03%, and December E-mini Nasdaq futures (NQZ25) are down -0.10%.
Stock index futures recovered from sharp overnight losses and are trading mixed. Solid earnings results from regional banks have helped to lift market sentiment. Truist Financial and Fifth Third Bancorp are moving higher today to lead bank stocks higher after reporting better-than-expected Q3 earnings. Regional bank stocks tumbled on Thursday amid concerns about the credit quality of regional banks, sparked by news that Zions Bancorp and Western Alliance Bancorp were victims of fraud involving loans to funds that invest in distressed commercial mortgages. The weakness in chipmakers and AI-infrastructure stocks today is a negative factor for the overall market.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Stock indexes also garnered support today as China-US trade concerns eased slightly after President Trump said current tariffs on China were "not sustainable" and affirmed that he will meet with Chinese President Xi Jinping at the end of the month in South Korea.
The escalation of trade tensions between the US and China, the ongoing US government shutdown, and fears about credit quality in the US have sparked a buying spree in precious metals as a haven, with gold and silver reaching fresh all-time highs today.
The shutdown of the US government continues, weighing on market sentiment and delaying key economic reports. The government shutdown means delays in the release of government reports, including the last three weeks of weekly initial unemployment claims, the Aug US trade report, and the Sep payroll report. Last Friday, the Bureau of Labor Statistics (BLS) said the September consumer price report, which was originally scheduled to be released on Wednesday, will be released on October 24. The White House has warned that if the government shutdown lingers, it would trigger widespread dismissals of employees in government programs that don't align with President Trump's priorities. Bloomberg Economics estimates that 640,000 federal workers will be furloughed during the shutdown, which would expand jobless claims and push the unemployment rate up to 4.7%.
The markets this week will focus on earnings results as the Q3 earnings season begins. Rising corporate earnings expectations are a bullish backdrop for stocks. According to Bloomberg Intelligence, 78% of the S&P 500 companies that have reported so far have beaten forecasts. Also, more than 22% of companies in the S&P 500 that provided guidance for their Q3 earnings results are expected to beat analysts' expectations, the highest in a year. However, Q3 profits are expected to have risen by +7.2% y/y, the smallest increase in two years. Also, Q3 sales growth is projected to slow to +5.9% y/y from 6.4% in Q2.
The markets are pricing in a 100% chance of a -25 bp rate cut at the next FOMC meeting on Oct 28-29.
Overseas stock markets are lower today. The Euro Stoxx 50 is down -0.38%. China's Shanghai Composite closed down -1.95%. Japan's Nikkei Stock 225 closed down -1.44%.
Interest Rates
December 10-year T-notes (ZNZ5) today are down -9 ticks. The 10-year T-note yield is up +3.6 bp to 4.011%. Dec T-notes fell from a 6.25-month high today and turned lower, and the 10-year T-note yield rebounded from a 6.25-month low of 3.934% and moved higher.
T-notes gave up overnight gains and turned lower after several regional bank stocks reported better-than-expected Q3 earnings, which eased concerns over credit quality in regional banks, improved market sentiment, and sparked long liquidation in T-notes. Additionally, the easing of US-China trade tensions has curbed safe-haven demand for government debt securities and weighed on T-notes today, following President Trump's statement that the high tariffs he has threatened to impose on China are unsustainable.
T-notes have support from the ongoing US government shutdown, which could lead to additional job losses, reduced consumer spending, and a weakened US economy, potentially allowing the Fed to continue cutting interest rates.
European government bond yields are moving higher today. The 10-year German bund yield recovered from a 3.5-month low of 2.523% and is up +1.5 bp to 2.585%. The 10-year UK gilt yield recovered from a 3.5-month low of 4.451% and is up +3.4 bp to 4.536%.
Eurozone Sep core CPI was revised upward by +0.1 to a 5-month high of 2.4% y/y from the previously reported 2.3% y/y.
ECB Governing Council member Simkus said, "downside risks to both growth and inflation" may require the ECB to lower interest rates further in the months ahead.
Swaps are discounting a 2% chance for a -25 bp rate cut by the ECB at its next policy meeting on October 30.
US Stock Movers
Chipmakers and AI infrastructure stocks are sliding today, a negative factor for the broader market. Oracle (ORCL) is down more than -6% to lead losers in the S&P 500. Also, ARM Holdings Plc (ARM) is down more than -2% to lead losers in the Nasdaq 100. In addition, Advanced Micro Devices (AMD), ON Semiconductor (ON), Applied Materials (AMAT), NXP Semiconductors NV (NXPI), Microchip Technology (MCHP), Qualcomm (QCOM), Arista Networks (ANET), Broadcom (AVGO), Dell Technologies (DELL), GlobalFoundries (GFS), and Super Micro Computer (SMCI) are down more than -1%.
Cryptocurrency-exposed stocks are falling today as the price of Bitcoin has dropped by more than -2% to a 2.75-month low. As a result, Coinbase Global (COIN), Galaxy Digital (GLXY), MARA Holdings (MARA), and Riot Platforms (RIOT) are down more than -2%.
AST SpaceMobile (ASTS) is down more than -5% after Barclays double-downgraded the stock to underweight from overweight with a price target of $60.
State Street Corp (STT) is down more than -4% after reporting Q3 net interest income of $715 million, below the consensus of $731.3 million.
Eli Lilly (LLY) is down more than 3% after President Trump announced that the White House will negotiate the price of the diabetes drug Ozempic down to as low as $150 a month.
Micron Technology (MU) is down more than -2% after Reuters reported the company plans to stop supplying server chips to data centers in China after it failed to recover from a 2023 government ban on its products in critical Chinese infrastructure.
Occidental Petroleum (OXY) is down more than -1% after Wells Fargo Securities initiated coverage on the stock with a recommendation of underweight and a price target of $42.
Jeffries Financial Group (JEF) is up more than +5% after Oppenheimer & Co. upgraded the stock to outperform from market perform with a price target of $81.
American Express (AXP) is up more than +4% to lead gainers in the Dow Jones Industrials after reporting Q3 EPS of $4.14, stronger than the consensus of $3.99.
Zions Bancorp (ZION) is up more than +4% after Baird upgraded the stock to outperform from neutral with a price target of $65.
Truist Financial (TFC) is up more than +3% after reporting Q3 non-interest income of $1.56 billion, better than the consensus of $1.49 billion.
CSX Corp (CSX) is up more than +2% after reporting Q3 revenue of $3.59 billion, better than the consensus of $3.57 billion.
Fifth Third Bancorp (FITB) is up more than +2% after reporting Q3 net interest income of $1.53 billion, above the consensus of $1.52 billion.
Huntington Bancshares (HBAN) is up more than +1% after reporting Q3 adjusted EPS of 40 cents, above the consensus of 37 cents.
Earnings Reports(10/17/2025)
Ally Financial Inc (ALLY), American Express Co (AXP), Comerica Inc (CMA), Fifth Third Bancorp (FITB), Huntington Bancshares Inc/OH (HBAN), Regions Financial Corp (RF), SLB Ltd (SLB), State Street Corp (STT), Truist Financial Corp (TFC), Webster Financial Corp (WBS).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Mixed as Chipmakers Slip and Bank Stocks Stabilize

The S&P 500 Index ($SPX) (SPY) today is up +0.14%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.43%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.07%. December E-mini S&P futures (ESZ25) are up +0.10%, and December E-mini Nasdaq futures (NQZ25) are up +0.05%.
Stock index futures recovered from sharp overnight losses to trade slightly higher as solid earnings results from regional banks helped lift market sentiment. Truist Financial, Regions Financial, and Fifth Third Bancorp are moving higher today to lead bank stocks higher after reporting better-than-expected Q3 earnings. Regional bank stocks tumbled on Thursday amid concerns about the credit quality of regional banks, sparked by news that Zions Bancorp and Western Alliance Bancorp were victims of fraud involving loans to funds that invest in distressed commercial mortgages.
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Stock indexes also garnered support today as China-US trade concerns eased slightly after President Trump said current tariffs on China were "not sustainable" and affirmed that he will meet with Chinese President Xi Jinping at the end of the month in South Korea.
The escalation of trade tensions between the US and China, the ongoing US government shutdown, and fears about credit quality in the US have sparked a buying spree in precious metals as a haven, with gold and silver reaching fresh all-time highs today.
The shutdown of the US government continues, weighing on market sentiment and delaying key economic reports. The government shutdown means delays in the release of government reports, including the last three weeks of weekly initial unemployment claims, the Aug US trade report, and the Sep payroll report. Last Friday, the Bureau of Labor Statistics (BLS) said the September consumer price report, which was originally scheduled to be released on Wednesday, will be released on October 24. The White House has warned that if the government shutdown lingers, it would trigger widespread dismissals of employees in government programs that don't align with President Trump's priorities. Bloomberg Economics estimates that 640,000 federal workers will be furloughed during the shutdown, which would expand jobless claims and push the unemployment rate up to 4.7%.
The markets this week will focus on earnings results as the Q3 earnings season begins. Rising corporate earnings expectations are a bullish backdrop for stocks. According to Bloomberg Intelligence, 78% of the S&P 500 companies that have reported so far have beaten forecasts. Also, more than 22% of companies in the S&P 500 that provided guidance for their Q3 earnings results are expected to beat analysts' expectations, the highest in a year. However, Q3 profits are expected to have risen by +7.2% y/y, the smallest increase in two years. Also, Q3 sales growth is projected to slow to +5.9% y/y from 6.4% in Q2.
The markets are pricing in a 100% chance of a -25 bp rate cut at the next FOMC meeting on Oct 28-29.
Overseas stock markets are lower today. The Euro Stoxx 50 is down -0.59%. China's Shanghai Composite closed down -1.95%. Japan's Nikkei Stock 225 closed down -1.44%.
Interest Rates
December 10-year T-notes (ZNZ5) today are down -6 ticks. The 10-year T-note yield is up +1.7 bp to 3.992%. Dec T-notes fell from a 6.25-month high today and turned lower, and the 10-year T-note yield rebounded from a 6.25-month low of 3.934% and moved higher.
T-notes gave up overnight gains and turned lower after several regional bank stocks reported better-than-expected Q3 earnings, which eased concerns over credit quality in regional banks, improved market sentiment, and sparked long liquidation in T-notes. Additionally, the easing of US-China trade tensions has curbed safe-haven demand for government debt securities and weighed on T-notes today, following President Trump's statement that the high tariffs he has threatened to impose on China are unsustainable.
T-notes have support from the ongoing US government shutdown, which could lead to additional job losses, reduced consumer spending, and a weakened US economy, potentially allowing the Fed to continue cutting interest rates.
European government bond yields are moving higher today. The 10-year German bund yield recovered from a 3.5-month low of 2.523% and is up +0.3 bp to 2.573%. The 10-year UK gilt yield recovered from a 3.5-month low of 4.451% and is up +3.3 bp to 4.534%.
Eurozone Sep core CPI was revised upward by +0.1 to a 5-month high of 2.4% y/y from the previously reported 2.3% y/y.
ECB Governing Council member Simkus said, "downside risks to both growth and inflation" may require the ECB to lower interest rates further in the months ahead.
Swaps are discounting a 2% chance for a -25 bp rate cut by the ECB at its next policy meeting on October 30.
US Stock Movers
Chipmakers and AI infrastructure stocks are sliding today, a negative factor for the broader market. Oracle (ORCL) is down more than -5% to lead losers in the S&P 500. Also, ARM Holdings Plc (ARM) is down more than -2% to lead losers in the Nasdaq 100, and Arista Networks (ANET) is down more than -2%. In addition, Advanced Micro Devices (AMD), Broadcom (AVGO), Dell Technologies (DELL), GlobalFoundries (GFS), and Super Micro Computer (SMCI) are down more than -1%.
Cryptocurrency-exposed stocks are falling today as the price of Bitcoin is down more than -1% at a 2.75-month low. As a result, Coinbase Global (COIN), Galaxy Digital (GLXY), MARA Holdings (MARA), and Riot Platforms (RIOT) are down more than -2%.
State Street Corp (STT) is down more than -5% after reporting Q3 net interest income of $715 million, below the consensus of $731.3 million.
AST SpaceMobile (ASTS) is down more than -3% after Barclays double-downgraded the stock to underweight from overweight with a price target of $60.
Eli Lilly (LLY) is down more than 3% after President Trump announced that the White House will negotiate the price of the diabetes drug Ozempic down to as low as $150 a month.
Micron Technology (MU) is down more than -1% after Reuters reported the company plans to stop supplying server chips to data centers in China after it failed to recover from a 2023 government ban on its products in critical Chinese infrastructure.
Booz Allen Hamilton Holding (BAH) is down more than -1% after TD Cowen downgraded the stock to hold from buy.
Jeffries Financial Group (JEF) is up more than +4% after Oppenheimer & Co. upgraded the stock to outperform from market perform with a price target of $81.
American Express (AXP) is up more than +3% to lead gainers in the Dow Jones Industrials after reporting Q3 EPS of $4.14, stronger than the consensus of $3.99.
Truist Financial (TFC) is up more than +3% after reporting Q3 non-interest income of $1.56 billion, better than the consensus of $1.49 billion.
CSX Corp (CSX) is up more than +2% after reporting Q3 revenue of $3.59 billion, better than the consensus of $3.57 billion.
Zions Bancorp (ZION) is up more than +2% after Baird upgraded the stock to outperform from neutral with a price target of $65.
Fifth Third Bancorp (FITB) is up more than +2% after reporting Q3 net interest income of $1.53 billion, above the consensus of $1.52 billion.
Huntington Bancshares (HBAN) is up more than +1% after reporting Q3 adjusted EPS of 40 cents, above the consensus of 37 cents.
Earnings Reports(10/17/2025)
Ally Financial Inc (ALLY), American Express Co (AXP), Comerica Inc (CMA), Fifth Third Bancorp (FITB), Huntington Bancshares Inc/OH (HBAN), Regions Financial Corp (RF), SLB Ltd (SLB), State Street Corp (STT), Truist Financial Corp (TFC), Webster Financial Corp (WBS).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Stabilize as Bank Stocks Recover and US-China Trade Tensions Ease

CSX Corporation CSX reported mixed third-quarter 2025 results wherein its earnings beat the Zacks Consensus Estimate, but revenues missed the same. Quarterly earnings per share of 44 cents on an adjusted basis beat the Zacks Consensus Estimate of 42 cents but decreased 4.3% on a year-over-year basis on the back of lower revenues.
Total revenues of $3.59 billion narrowly missed the Zacks Consensus Estimate and declined 1% year over year. The downside was owing to lower export coal prices and a decline in merchandise volume. These were partially offset by higher merchandise pricing, an increase in other revenues and growth in intermodal volume.
Third-quarter adjusted operating income decreased significantly year over year to $1.25 billion. CSX’s adjusted operating margin during the September quarter was 34.9%. Total volumes inched up 1% year over year.
CSX Corporation Price, Consensus and EPS Surprise
Q3 Segmental Performance of CSX
Merchandise revenues fell 1% year over year to $2.21 billion in the reported quarter, lower than our estimate of $2.29 billion. Merchandise volumes fell 1% year over year to $660 million. Segmental revenue per unit remained flat year over year.
Intermodal revenues increased 4% year over year to $527 million, higher than our estimate of $495 million. Segmental volumes increased 5% while revenue per unit decreased 2% year over year.
Coal revenues plummeted 11% year over year to $490 million in the reported quarter, higher than our estimate of $481.6 million. Coal volumes decreased 3% year over year, while segmental revenue per unit fell 9%.
Trucking revenues totaled $207 million (below our estimate of $224 million), down 3% year over year. Other revenues grew 38% year over year to $155 million (above our estimate of $103.1 million) in the reported quarter.
Liquidity
CSX exited the third quarter of 2025 with cash and cash equivalents of $602 million compared with $933 million at the end of 2024. Long-term debt of $18.5 billion remained flat sequentially.
2025 Guidance of CSX
For 2025, CSX still expects total volume growth.
CSX will continue to focus on operational excellence, labor productivity and efficiency initiatives. Capital expenditures are expected to be $2.5 billion this year, excluding hurricane rebuild spending.
Currently, CSX carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Q3 Performances of Other Transportation Companies
Delta Air Lines DAL reported third-quarter 2025 earnings (excluding 46 cents from non-recurring items) of $1.71 per share, which beat the Zacks Consensus Estimate of $1.52. Earnings increased 14% on a year-over-year basis due to low fuel costs.
Revenues in the September-end quarter were $16.67 billion, beating the Zacks Consensus Estimate of $15.79 billion and increasing 6.4% on a year-over-year basis. Due to improving air-travel demand, adjusted operating revenues (excluding third-party refinery sales) increased 4.1% year over year to $15.2 billion.
United Airlines UAL reported mixed third-quarter 2025 results wherein the company’s earnings beat the Zacks Consensus Estimate, but revenues missed the same.
UAL's third-quarter 2025 adjusted earnings per share (EPS) (excluding 12 cents from non-recurring items) of $2.78 beat the Zacks Consensus Estimate of $2.64 but declined 16.5% on a year-over-year basis. The reported figure lies above the guided range of $2.25 to $2.75 per share.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.