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KNX
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 Enterprises (WERN-1.1%), Schneider National (
SNDR-0.0%), J.B. Hunt Transport Services (JBHT-0.2%), Heartland Express (
HTLD-1.5%), UPS (UPS-1.6%), FedEx (FDX-1.6%), Norfolk Southern
(NSC-1.5%),
CSX (CSX-1.2%), Union Pacific (UNP-1.5%), Kansas City Southern (KSU-1.6%)
and Daseke (DSKE+1.8%) - which is the #1 ranked trucking stock by
Seeking Alpha Quant Ratings.





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