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Shares rise as House approves 3rd stimulus bill
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LTL carriers see strong trends flow through second quarter
April and May bring best metrics in past decade 2 minutes read Q2 comps surge on year-ago COVID lockdowns (Photo: Jim Allen/FreightWaves)
A couple of less-than-truckload carriers provided updates through the first two months of the second quarter on Wednesday. The year-over-year advances were very large and reflected easy comparisons to 2020, which experienced a sharp falloff as parts of the economy were knocked offline amid expanding COVID-related shutdowns.
ArcBest Corp. (NASDAQ: ARCB) reported a 40% year-over-year increase in revenue per day in its asset-based segment, which includes LTL operations, during May. The company previously disclosed that April revenue was up 47% year-over-year. Tonnage per day was up 29% in April and 21% in May with revenue per hundredweight, inclusive of fuel surcharges, up 15% and 16%, respectively.
Benchmark indices trade flat, dragged by metals
June 01, 2021
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At 1 pm, the BSE Sensex was at 51,965.82, up 28.38 points or 0.05 per cent
Amid alternate bouts of buying and selling, benchmark Indices were trading flat in the afternoon on Tuesday. While metal stocks were dragging the key indices, energy and FMCG stocks lent support.
At 1 pm, the BSE Sensex was at 51,965.82, up 28.38 points or 0.05 per cent. It hit an intraday high of 52,228.65 and a low of 51,808.88. The Nifty 50 was ruling at 15,578.90, down 3.90 points or 0.03 per cent. It hit an intraday high of 15,660.75 and a low of 15,528.30.
Gaurav Garg, Head of Research, CapitalVia Global Research Limited, said, “The market is trading negatively after erasing its initial gains. Traders are careful that the second wave of coronavirus illnesses has had a significant influence on the country’s corporate sentiment. FICCI’s Business Confidence Survey states that after reaching a decadal high of 74.2 in the previous s
Euro zone factory growth hits record high in May
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Euro zone factory growth, input costs hit record highs in May: PMI
Euro zone manufacturing activity expanded at a record pace in May, according to a survey on Tuesday which suggested growth would have been even faster without supply bottlenecks that have led to an unprecedented rise in input costs.
The bloc’s economy has been ravaged by the coronavirus pandemic over the past year, with governments forcing much of the region’s dominant service industry to close. But factories largely remained open, and restrictions in various countries have gradually been eased.
IHS Markit’s final Manufacturing Purchasing Managers’ Index (PMI) rose to 63.1 in May from April’s 62.9, above an initial 62.8 “flash” estimate and the highest reading since the survey began in June 1997.
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