FDX - Key freight index turns positive in October

The V-shaped recovery in the freight industry is evident in the latest update from Cass Information Systems. The Cass Freight Index increased 2.4% Y/Y in October to improve dramatically on last month's decline of 1.8%. Rail volumes were also positive during October. In freight pricing, the tight truckload market has caused spot rates to reach heights not seen in a very long time, but contract rates are expected to be renegotiated. "Shipping volumes were back in the black, with the index posting a positive year-over-year change for the first time since November 2018. We should see this continue through year-end, assuming current freight trends continue, even with normal seasonal softening month to month. Inventories remain quite lean." Sector watch: Knight-Swift Transportation ([[KNX]] +0.8%), USA Truck ([[USAK]] -2.3%), Marten Transport ([[MRTN]] -0.1%), YRC Worldwide ([[YRCW]] +0.8%), U.S. Xpress Worldwide ([[USX]] -2.5%), ArcBest ([[ARCB]] -2.9%), Old Dominion Freight Line ([[ODFL]] -0.5%), Werner

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Key freight index turns positive in October