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Former Business Contributing Editor
Evan Lockridge worked for Heavy Duty Trucking for 20 years until 2018. A consummate "news guy" since the 1980s, he began covering trucking in 1990 on nationwide radio, print and digitally.
He is the recipient of four Jesse H. Neal honors.
The amount of for-hire freight increased for the second consecutive month, hitting a new record high, due in large part to a jump in truck shipments, according to new U.S. Transportation Department figures.
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One day the Federal Reserve will raise interest rates – perhaps as early as this fall. But what will this mean for trucking?
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Overall inflation is posing no threat to the U.S. economy, with a new report showing retail prices fell in September, the biggest drop in eight months. However, a key measure inside this moved higher, leading to more guessing about whether the Fed will raise interest rates.
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Following a surge to close out September, the number of posted loads on the spot truckload market dropped 11% during the week ending Oct. 10, according DAT Solutions, which operates the DAT network of load boards.
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J.B. Hunt's third quarter net earnings exceeded analyst expectations at $115.1 million, or diluted earnings per share of 99 cents, compared to third quarter 2014 net earnings of $102.4 million, or 87 cents per diluted share.
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Retail sales in the U.S. barely moved higher last month -- about half what many analysts were expecting. With wholesale prices falling the most in eight months. there's more speculation on what will happen with interest rates.
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Freight shipments and payments rose in September following two straight monthly declines, according to the latest Cass Freight Index.
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Ryder System Inc. has become the latest trucking operation to revise downward expectations for its upcoming third quarter earnings.
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Spot market freight volume remained relatively stable in September, edging down only 0.6% month over month as rates declined from both the month before and a year earlier, according to monthly numbers from DAT.
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The number of posted loads on the spot market jumped 5.7% for week ending Oct. 3, as shippers rushed to move inventory before the end of the quarter while available truck capacity fell 4.5%, but the changes were not enough to advance rates.
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