ECONOMICS

The headline Philly Fed Business Sector Outlook survey print was -9 in October, worse than the -7 expected, but a small bounce from the -13 print in September, as almost 35% of the firms reported decreases in general activity this month.

That is the end of the good news.

This is the index’s 15th negative reading in the past 17 months.

Source: Bloomberg

While general activity remained negative, indicators for new orders and shipments were positive but low, and and (more…)

By John Kingston of FreightWaves

A change is brewing in the next day or two at Seattle-based digital brokerage Convoy, with reports Wednesday of all loads being canceled.

A communication from Convoy representatives to their customers, obtained by FreightWaves, said the company is “taking several necessary steps to prepare Convoy’s business for a transition that we will have more details on in the next 48 hours.” 

The message from Convoy said the company could not (more…)

The Fed's latest beige book released this afternoon was a rather boring affair, one signaling "little to no change in economic activity" since the September report.

That said, one month after a rather downbeat Beige Book warned that consumers had "exhausted" their savings and recession mentions surged to a 5 year high, a more jovial tone has returned with the Beige Book indicating that while consumer spending was "mixed, especially among general retailers and (more…)