The CEOs of two major railroad companies told CNBC on Wednesday they aren't necessarily worried about the U.S. economy.
Their comments come on the heels of a drop in what many view as an indicator of the country's economic health — the Dow Transports. The sector fell half a percent to post its ninth straight decline on Wednesday, its longest losing streak since 2009. It also closed in correction level, more than 11 percent below its intraday high on Sept. 14.
"We do see a lot of negativity being discussed that might scare consumers," Fritz said in an interview with "Closing Bell." "But broadly speaking, the job market still looks pretty good to us. Unemployment looks good. Wages look good. Overall wealth for consumers looks pretty good. They seem to still be purchasing. The industrial economy still looks pretty healthy. "
Foote, in a separate "Closing Bell" interview, said, "Obviously there's a lot of confusion and noise on a political level and elsewhere that cause people some concerns, but overall we're still expecting … this year to be relatively good."