Waste Management is the stock to get into here
CSX Transportation’s Tuesday earnings call gave some insight into what stocks could be worth playing, Cramer said.
“If you want to get an honest read on the economy, forget the government data from the Commerce Department,” he said. “You got an incredible snapshot of the economy from CSX, the best railroad around with a stock that caught fire today.”
The stock rose 4% during the trading day. The major U.S. indexes all dipped.
CSX was the first of the railroad stocks to report its most recent quarterly results, and its revenue break down gave a good look at the domestic economy, Cramer said.
“I was amazed at how strong their business is … Sure, CSX is an east-southeast railroad for the most part and its business doesn’t of course stretch overseas,” he said. “But that’s why it’s such a terrific tell for what’s happening in the U.S. economy, and it’s also fabulous source of inspiration if you’re on the hunt for new stock picks.”
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