America's Truckin' Network

Took in a couple of Fall Festivals this weekend (1½ hour and 1hr away) lots of fun, good eats and observations about the economy. New Federal Motor Carrier Safety Administration rule mandates, what are they and what do they mean? American Transportation Research Institute released its 20th annual Top Industry Issues report, major shifts in and out of the top 10. Oil reacts to OPEC cutting its 2024 and 2025 global oil demand forecasts, falling Chinese oil imports and the US plans to send an anti-missile system and 100 American troops to Israel.

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Hurricane Milton and destruction update. The Consumer Price Index numbers were released, the good news and the bad news. U.S. Department of Labor Weekly jobless claims report was released the numbers surprised the "experts". The minutes of the most recent Federal Reserve meeting were released giving us some insight into their interst rate cut decision making. Oil reacts to Hurricane Milton, Iran- Israel escalation, oil producing nations concern over production interuption and possible demand increases.

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Hurricane Milton update. Biden signs Bill easing Veterans' access to commercial driving schools (CDL). American Trucking Associations' outgoing Chairman Andrew Boyle wrote an article encouraging people to get involved in the political process. Oil prices react to US crude stockpiles rising; gasoline and distillate stocks falling; Israeli Prime Minister Netanyahu to discuss Israel 's retaliation against Iran, which could cause oil supply disruptions, with Joe Biden; Hurricane Milton and China's slow economic growth reducing their oil demand.

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The latest update on Hurricane Milton. The September Logistics Managers' Index has been released, does it indicate expansion or contraction. Rivian Automotive has applied for a Federal loan to help finance a $5 billion electric vehicle factory. Rivian adjusts 2024 production targets, up or down and why. Oil reacts to easing fears of supply disruptions from the conflict between Israel and Iran after Hezbollah signaled support for a ceasefire proposed by Lebanon, Hurricane Milton and the expectation that the US crude oil stockpiles rose in the previous week.

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US Dockworkers' strike ends...for now; contract extended until Jan. 15. US jobless claims reported, we have the numbers. The Labor Department released the September Jobs Report and Unemployment Rate; are the numbers up or down? Oil reacts to an increased risk of a region-wide Middle East war, Iran-backed Hezbollah fired rockets into Israel's third largest city; Houthis launch missiles from Yemen and the possibility that Israel may attack Iran's oil facilities.

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How well is the Biden Administration and FEMA responding in the aftermath of Helene? An update on the Dockworkers' strike: should the Taft-Hartley Act be invoked? What is the Taft-Hartley Act? After demonizing Tariffs, suddenly they're okay? Stellantis reports 3rd quarter sales, up or down? Stellantis recalls 200,000 plug-in Jeeps and SUVs. Oil reacts to comments from Joe Biden regarding Israel's possible retaliation against Iran, OPEC+ spare oil capacity, and possible disruptions in oil shipments in the Middle East.

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The number of deaths and the extent of the destruction from Hurricane Helene continues to grow; the staggering numbers. Businesses assess the effects of the strike by the International Longshoremen's Association at 36 East and Gulf Coast ports from Boston to Houston. Will Biden take any steps to end the strike? How will oil prices be affected by fears of Middle East oil supply disruptions, Israel vowing to retaliate against Iran for Tuesday's 180 missile attack, U.S. crude and gasoline inventories rising and OPEC+'s decision to keep oil output policy unchanged.

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Kevin gives an update on Hurricane Helene and the recovery effort, including his thoughts on the Vice Presidential Debate. He also discusses the largest dockworker strike since 1977 and how this affected the economy. And oil reacts to Iran launching a missile attack on Israel's Houthi's attack on another vessel in the Red Sea—upcoming U.S oil inventory data.

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East and Gulf Coast Ports prepare to close; the issues and ramifications. Commerce Department released the Personal Comsumption Expenditures report, the key Federal Reserve's inflation gauge. What were the results and what does it say about the battle against inflation. Sale of remaining Yellow Corp. terminals. Oil reacts to fears of a widening conflict in the Middle East curtailing Iranian crude supply after Israel attacks terrorists in Lebanon and Yemen, OPEC+ potential oil production increases, Beijing stimulus may not be enough to lift demand, Chinese factory activity shrinks for a fifth straight month and reports that Libya's oil production may come back online this week.

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The Bureau of Economic Analysis issued the third and final estimate of the 2nd Quarter Gross Domestic Product, Personal Consumption Index, and Consumer Price Index, which it tells and doesn't tell us. West Coast ports' volumes surge; why and what that tells us about the economy. Oil prices react to a report that Saudi Arabia will give up its $100 per barrel price target in preparation for raising output, the prospect of additional crude supply from Libya, and China's pledge to deploy "necessary fiscal spending."

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