Where the trucking and rail recession is showing up in the logistics data
Publishing timestamp: 2023-04-28 17:29:26
Summary
Transportation, trucking, and railroad stocks have been underperforming in recent trading due to a slowdown in freight volumes. Weakness in inbound freight has been signaled for several months, and the decrease negatively impacts earnings for both trucking and rail where revenue is generated by moving freight. The decline in ocean bookings and longer-term shift away from California ports compounds problems for the trucking industry. Despite a long-term shortage of drivers for the trucking industry, labor is currently being reduced on the West Coast.
Sentiment: NEGATIVE
Tickers: JBHT, CSX, NSC, UPS, UNP,
Keywords: union pacific corp, trucking, economy, j.b. hunt transport services inc, united states, csx corp, norfolk southern corp, u.s. economy, united parcel service inc, houston, business news,