Spot rates excluding the total estimated cost of fuel (NTIL) have fallen 3% since the start of August. Dry van tender rejection rates (VOTRI), which measure the percentage of loads that carriers are unable to cover for their customers, are averaging about 30 bps lower. In other words, the market that appeared to be showing signs of tightening in the summer has reversed course over past quarter.
Open FlipA bull market is raging for stocks, with the S&P 500 index hitting 42 record closing highs this year, while soaring more than 20%.Some experts think the party will keep right on rolling along. They cite strong earnings as one factor. S&P 500 earnings jumped 11.3% in the second quarter from a year earlier, according to FactSet.
Open FlipCostco's earnings beat and slight revenue miss for its fiscal fourth quarter signal a resurgence in consumer confidence, benefiting major retailers like Walmart, as Adobe projects an 8.4% year-over-year increase in U.S. online sales during the 2024 holiday season. Costco's efforts to lower prices and attract younger customers have boosted its sales and membership revenue.
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