BUZZ-US logistics firms rise after Powell signals possible rate cut
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Shares of U.S. logistics firms, including trucking companies, rose following Federal Reserve Chair Jerome Powell's indication of a potential rate cut at the upcoming September meeting. Notable increases included J.B. Hunt (5.6%), Knight-Swift (6.1%), and Schneider National (4.4%). In the less-than-truckload segment, Old Dominion Freight Line (6.1%), Saia (8.1%), and XPO (6.7%) also saw gains. Truckmaker Paccar rose by 3.8%. The S&P Transportation Select Industry index is up 0.9% year-to-date, compared to an 8.3% rise in the S&P 500 index.
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