Speaker 1: This is America's Trucking Network with Kevin Gordon.
Speaker 2: Lulaable.
Speaker 3: Thanks for tuning in on this Thursday morning. Well, the
Speaker 3: twenty twenty six is off to a great start. If
Speaker 3: you look at what is going on in the oil sector,
Speaker 3: when you look at what's going on manufacturing, service sector,
Speaker 3: everything across the board, things are pointing in the right direction.
Speaker 3: We got some private payroll numbers which are two days
Speaker 3: ahead of what the other jobs report from the US
Speaker 3: government is going to be coming out later on in
Speaker 3: the week. But private payrolls, according to ADP, payrolls rose
Speaker 3: forty one thousand, slightly below expectations. Private sector job creation
Speaker 3: turned positive in December, though a bit softer paced than expected.
Speaker 3: Payroll processing firm ads reported on Wednesday companies added a
Speaker 3: forty one thousand hires for the month, a reversal from
Speaker 3: a loss of twenty nine thousand in November, providing a
Speaker 3: positive sign for a labor market that otherwise struggled.
Speaker 2: As twenty twenty five came to a close.
Speaker 3: Private company payrolls had declined in three of the four
Speaker 3: months prior to December. Final tally was slightly less than
Speaker 3: the dal Jones' consensussessment of forty one thousand, So their
Speaker 3: numbers and their estimates were off by fifteen percent, which
Speaker 3: is they say slightly, but fifteen percent is a significant difference,
Speaker 3: but it's still in the positive range, up forty one
Speaker 3: thousand instead of forty eight that they had expected. Payroll
Speaker 3: growth came entirely in service industries, as education and health
Speaker 3: related fields added thirty nine thousand jobs. Leisure and hospitality
Speaker 3: contributed to twenty four thousand.
Speaker 2: Let me stop right there.
Speaker 3: If you're adding jobs in the hospitality and leisure, that
Speaker 3: means that people are out. Hospitality and leisuring to put
Speaker 3: it like that, but people are out traveling, People are
Speaker 3: out going to motels, hotels, They are going out and
Speaker 3: spending money on dinners, going out, and included in hospitality
Speaker 3: would be if you're going to movies, if you're going
Speaker 3: to plays, if you're going to different sporting events. That's
Speaker 3: all considered hospitality. So the consumer is continuing to spend.
Speaker 3: We are still expanding that area. Therefore, these companies are
Speaker 3: adding employees to accommodate the business that they're having. Trade
Speaker 3: transportation utilities gained eleven thousand, which is good because in
Speaker 3: the transportation industry. That means more stuff is moving, more
Speaker 3: people are out on the road. As I talked about
Speaker 3: coming back from Nashville back in the mid December, the
Speaker 3: number of trucks that I saw out on the highway
Speaker 3: there I mentioned at the time, it was just absolutely incredible.
Speaker 3: So kind of contrary to what all these economists were
Speaker 3: saying about, Oh, you know, we don't think the Christmas
Speaker 3: season is going to be very good. People are going
Speaker 3: to be holding back, people are gonna be No. They
Speaker 3: didn't hold back, well, they held back a little bit
Speaker 3: depending upon where you look. The total number amount of
Speaker 3: money spent was up. They just spent it in different places.
Speaker 3: They spent on more valued type items as opposed to
Speaker 3: more luxury items, which in the final analysis, the stuff
Speaker 3: that you use on a regular basis, the more practical
Speaker 3: stuff that you buy, is a lot more important sometimes
Speaker 3: than some of the stuff that you may use only
Speaker 3: once in a blue moon type of thing. And so
Speaker 3: when people are shifting around, and you know, we have
Speaker 3: had major recessions back in the mid nineties, remember the
Speaker 3: dot com bust. You know, everything was going to you know,
Speaker 3: the Internet and everything was developing as far as the
Speaker 3: dot coms, and then all of a sudden, that part
Speaker 3: of the economy just absolutely collapsed. Then you fast forward
Speaker 3: into two thousand and eight, two thousand and seven, two
Speaker 3: thousand and five, we had this housing bubble. We had
Speaker 3: a lot of things going in in terms of subprime
Speaker 3: loans where the administration and the people at that time,
Speaker 3: starting back during the Clinton years, but continuing on into
Speaker 3: the Bush years, And every time I look back on
Speaker 3: the Bush years, what I thought was being done as
Speaker 3: far as conservativism at that time, not so much.
Speaker 2: But there was this push to get.
Speaker 3: As many people into the housing market as possible, to
Speaker 3: get a situation of where you could have generational wealth
Speaker 3: as opposed to what you're hearing about these knuckleheads that
Speaker 3: are in charge of the Housing Commission in New York
Speaker 3: talking about that housing and owning property.
Speaker 2: Is white privilege.
Speaker 3: Gosh, that's going to come as a big shock to
Speaker 3: a lot of my African American friends and immigrant friends
Speaker 3: and people that have come to this country from Russia
Speaker 3: or yugoslav any of the people that have come to
Speaker 3: this country that are owning property. That's going to come
Speaker 3: as a big surprise to them. But again, that's the
Speaker 3: knuckleheads of socialism, the communist type of mentality that is
Speaker 3: now running New York. But again, when you look back
Speaker 3: at the dock, at the housing market back in two
Speaker 3: thousand and five, it was on fire. The housing prices
Speaker 3: were going up tremendously. People were getting into homes, people
Speaker 3: that shouldn't have been borrowing getting homes. They were adding
Speaker 3: income to them and saying, well, if you're getting these
Speaker 3: benefits and these benefits, well you could qualify basically for
Speaker 3: a loan.
Speaker 2: Well, it wasn't cash that they were receiving. It was
Speaker 2: either you.
Speaker 3: Know, snap benefits or housing accommodations or something along those lines.
Speaker 3: So it wasn't actual cash money. So when people got
Speaker 3: into a home that they couldn't afford, then all of
Speaker 3: a sudden they defaulted on that. And then on top
Speaker 3: of that, you had a situation where companies were act
Speaker 3: you know, when you're bought, when you're loaning a lot
Speaker 3: of money. Banks don't have endless cash reserves that they
Speaker 3: can spend. So what they do is they went out
Speaker 3: and they bundled these loans and sold them at a
Speaker 3: discount where other people were processing those loans, and then
Speaker 3: they had more cash in order to lend. Well, what
Speaker 3: was happening is that they were taking well, let's say
Speaker 3: your mortgage, my mortgage, our mortgage had been sold to
Speaker 3: like four or five different companies. Now that is absolutely insane.
Speaker 3: It wasn't illegal at the time. It was sure as
Speaker 3: hell unethical, but people were going out and selling these loans,
Speaker 3: not the same you know, not the same bundle, but
Speaker 3: they'd mix them up and.
Speaker 2: Sell them out.
Speaker 3: But when somebody defaults on that loan, then that company
Speaker 3: goes back and says, okay to the insurance company or
Speaker 3: whatever to get that loan or to get that money back.
Speaker 3: They find out that they're in line with four other
Speaker 3: people for the same loan, which was absolutely ridiculous. Then
Speaker 3: on top of that, you had some of these insurance
Speaker 3: companies like you and I. We could go out and
Speaker 3: we could form an insurance company. We could say, hey,
Speaker 3: what you know, we're going to guarantee these subprime loans,
Speaker 3: these loans that most people won't ensure.
Speaker 2: We'll go ahead and ensure those.
Speaker 3: We'll get a big down payment from them, sock that
Speaker 3: money away, spend it, and then when the default comes
Speaker 3: and they ask for the money to pay for you know,
Speaker 3: from the insurance was upts. Guess what, we can't afford that,
Speaker 3: so we're going to file bankruptcy. And so we had
Speaker 3: the housing market collapse at that point. So then you
Speaker 3: have that, and you've had, you know, different ups and
Speaker 3: downs in the economy. And during those periods of times
Speaker 3: when people, you know, in two thousand and eight, when
Speaker 3: housing prices went down about forty percent, a lot of people,
Speaker 3: you know, wound up losing their homes. But during times
Speaker 3: and the Great Recession as they call it at that time,
Speaker 3: not so much great, but in economic times, when things
Speaker 3: start tightening up and your dollar doesn't go as far,
Speaker 3: that's when people kind of look back and say, well,
Speaker 3: how can I save money? Where am I wasting money?
Speaker 3: How can I get more value added to this stuff?
Speaker 3: And once in a while, even in good times, it's
Speaker 3: good to take a look at that and say, gosh,
Speaker 3: you know, I'm making money, I've got a good job.
Speaker 3: Do I need to be spending money on this, that
Speaker 3: and the other thing? Should I be socking a little
Speaker 3: bit of money away? And this whole idea of just
Speaker 3: you know, spend spend, spend, spend, spend when you don't
Speaker 3: have them, when you shouldn't be doing that. You should
Speaker 3: always be going for value. You know, I talk about
Speaker 3: going to the grocery store. I went to the grocery
Speaker 3: store last night. I actually went up there because we
Speaker 3: were gonna have a salad, and so I went up
Speaker 3: to get some lettuce, and I think I went up
Speaker 3: to get some cheese, and I think I went up
Speaker 3: to get the eggs. So I only went up there
Speaker 3: to get three things. As I'm walking through the store,
Speaker 3: it's but it was Tuesday night. I was up at
Speaker 3: the store, and the sales for that week and that
Speaker 3: time at that day, and then so the next day
Speaker 3: the stuff that was on sale won't be on sale.
Speaker 3: Walking through the store, I'm looking at certain prices, I said, well, geez,
Speaker 3: that's a pretty decent price. I hadn't really looked at
Speaker 3: the circulars or the flyers that had come out for
Speaker 3: those that week for that particular store. And so I'm
Speaker 3: walking through the store and I thought, well, gee whiz,
Speaker 3: I'm getting low on cereal. So I buy a couple
Speaker 3: of boxes of cereal. I'll buy this, I'll buy this,
Speaker 3: and a couple of other items that I know that
Speaker 3: we're going to be using over the next couple of weeks,
Speaker 3: especially with football games and everything that's going to be playing,
Speaker 3: and so I thought, well, snacks and that.
Speaker 2: Sort of stuff, so I bought it. If I would have.
Speaker 3: Not paid attention and just bought you know, the or
Speaker 3: normal and when it's not on price, I would have
Speaker 3: spent over sixty dollars going up to the store to
Speaker 3: buy three items a head of lettuce, cheese, and eggs.
Speaker 3: But I spent over sixty Well, on paper, it was
Speaker 3: sixty five dollars. But because of the bargains that I got,
Speaker 3: I'm getting boxes a cereal for a dollar, and we're
Speaker 3: talking about name brands. There are a dollar ninety nine
Speaker 3: I saved. According to the receipt here, I saved twenty
Speaker 3: six dollars in seas seventy nine cents and spent forty
Speaker 3: three dollars and thirty seven cents. Just by paying attention
Speaker 3: to what's going on, you cut your food bill. And
Speaker 3: these are the kinds of things that I recommend that
Speaker 3: people do on a regular basis, because I would much
Speaker 3: rather have that twenty six dollars in my pocket than
Speaker 3: mister Kroger. So anyway, not that I'm downplaying Kroger, minds.
Speaker 3: You got decent prices if you pay attention. But anyway,
Speaker 3: coming up, we'll talk a little bit more about the
Speaker 3: private payroll survey. I'm Kevin Gordon, America's truck a Network
Speaker 3: seven hundred WLW.
Speaker 2: I need this is.
Speaker 1: The raathing repard on America's Trucking Network on seven hundred WLW.
Speaker 4: NASCAR commissioner Steve Phelps announcing his resignation Tuesday after more
Speaker 4: than twenty years with the top racing series in the
Speaker 4: United States, amid a nasty federal trial in which inflammatory
Speaker 4: texts he said during revenue sharing negotiations were revealed. Kenny
Speaker 4: Wallace reacts to this move by coffee with Kenny.
Speaker 2: It had to be done.
Speaker 5: It had to be done for NASCAR to move forward.
Speaker 5: There are good times ahead for NASCAR. Let me explain.
Speaker 5: I'm privy to a lot of information. You all and
Speaker 5: all of us are gonna get so much.
Speaker 2: We're gonna get everything we wanted.
Speaker 5: That everyone will have no choice but to love NASCAR again.
Speaker 2: And other racing news.
Speaker 4: Jesse Love, the reigning twenty twenty five NASCAR O'Reilly Auto
Speaker 4: Parts Series champion, will compete in the twenty twenty six
Speaker 4: Chili Bowl Nationals, the premier event in midget racing in Tulsa, Oklahoma.
Speaker 4: Will Power made his first run for Andretti Global at
Speaker 4: Phoenix Raceway on Wednesday as part of a Firestone Racing
Speaker 4: tire test alongside former teammate Joseph Newgarden from Team Penske.
Speaker 4: The Indy cars will run at Phoenix in March.
Speaker 1: This is the racing reward on America's drug A Network
Speaker 1: on seven hundred WL Say Dennison a t.
Speaker 5: N.
Speaker 3: I'm Kevin Gordon, americastruck A Network seven hundred WLW Taking
Speaker 3: a look at again getting into this private payroll surveys
Speaker 3: from ADP to a payroll processing firm. Talk about a
Speaker 3: company that should have a handle on what's going on.
Speaker 3: You figure that, all right, this is a company of
Speaker 3: the process of payroll checks.
Speaker 2: All right, If you're.
Speaker 3: Processing ten thousand and fifteen thousand more checks this week
Speaker 3: or this payroll period than you did the previous you'd
Speaker 3: have a pretty good idea what's going on as far
Speaker 3: as the labor market is concerned. So anyway, getting this
Speaker 3: payroll report from them was a good thing. Again, up
Speaker 3: forty one thousand from what was twenty nine negative twenty
Speaker 3: nine thousand in November. Now, originally that number had come
Speaker 3: in at thirty two, but it had been adjusted because
Speaker 3: of the numbers, so it wound up being at twenty
Speaker 3: nine thousand. Not a big difference there, but again they
Speaker 3: had expected forty eight thousand, or the economists that expected
Speaker 3: forty eight thousand forty one thousand. There were fifteen percent off,
Speaker 3: but still in positive territory.
Speaker 2: Nearly all the.
Speaker 3: Job gains came in companies employing fewer than five hundred workers. Now,
Speaker 3: wait a minute, let me stick skip back here, because
Speaker 3: I got off track here When I was talking about
Speaker 3: the payroll growth was in education, health related fields added
Speaker 3: thirty nine thousand, and leisure and hospitality contributed twenty four thousand,
Speaker 3: and then talking about the transportation adding eleven thousand. Again
Speaker 3: talking about hospitality and leisure where people are spending money.
Speaker 3: Where if they're still out there spending money, then these
Speaker 3: companies are adding payrolls transportation, more goods are being transferred,
Speaker 3: more goods are being transported over the whatever method, either
Speaker 3: through airfare or railroad or trucking industry. So again financial
Speaker 3: services rose by six thousand. Offsetting those gains were losses
Speaker 3: of twenty nine thousand in professional and business services and
Speaker 3: twelve thousand information services. Remember, with all the AI and
Speaker 3: all that building up last year, a lot of technology
Speaker 3: companies were hiring more and more.
Speaker 2: People in order to get this up and running.
Speaker 3: Well, apparently those people were being used to get things
Speaker 3: up as far as AI is concerned. Once that's done,
Speaker 3: then those contracts ended and those people have been eliminated.
Speaker 2: And in the.
Speaker 3: Service sector, as far as professional and business services, a
Speaker 3: lot more stuff is being done online, a lot more programs.
Speaker 3: You know, you can go online now and you can
Speaker 3: see how certain well this time of year when people
Speaker 3: are doing their taxes or thinking in terms of their taxes,
Speaker 3: some of the programs that are out there are getting
Speaker 3: better and better and better at taking your information, putting
Speaker 3: it in there and coming up with a result, which
Speaker 3: means that people that would be normally going to some
Speaker 3: tax service company or in the professions there, those are
Speaker 3: you know, coming down. People aren't using that as much.
Speaker 3: And in terms of companies, a lot of AI is
Speaker 3: starting to take over in those professional areas, and so
Speaker 3: we're seeing a little bit of a decrease there, but
Speaker 3: it could be temporary offsetting a gain twenty nine thousand
Speaker 3: professional and business services that could come back again based
Speaker 3: on if businesses aren't expanding, you're not going to have
Speaker 3: a need for somebody that is a merger and acquisition.
Speaker 3: So if these companies that do merger and acquisition advisement,
Speaker 3: either accounting firms, at law firms or whatever, if they're
Speaker 3: not doing many of that, well, then they've got too
Speaker 3: many people on hand, and so they may be laying
Speaker 3: some of those people off. So again, when we're looking
Speaker 3: at nearly all the job games gains came in companies
Speaker 3: employing fewer than five hundred workers. That is a good
Speaker 3: sign because when you look at you know, we always
Speaker 3: hear about the big major companies. You know, you got
Speaker 3: your A, you got your GM, and you have your
Speaker 3: Ford Motor Company, you have your grocery store companies, and
Speaker 3: you have a lot of major employers. But the bulk
Speaker 3: of people that are working are working for small companies.
Speaker 3: To give you an example, firms with fewer than one
Speaker 3: hundred employees less than one hundred employees employee fifty two
Speaker 3: percent of the people that are working. Firms with one
Speaker 3: hundred to four hundred and ninety nine employees, they represent
Speaker 3: about twenty five percent of the employees working. Firms with
Speaker 3: more than five hundred employees only represent twenty three percent
Speaker 3: of the total people that are working out there, So
Speaker 3: the major gains if you're seeing an uptick in small
Speaker 3: businesses again, which they're not going to.
Speaker 2: You know, when you're a small company.
Speaker 3: You're a little bit more aware of what your costs
Speaker 3: and what your expenses are because you're seeing them and
Speaker 3: in some cases you're writing the checks for that or
Speaker 3: paying the things online, so you're well aware of what's
Speaker 3: going on. But if you're seeing that your business is
Speaker 3: up and you need to hire employees, that's a good
Speaker 3: sign because again with the small businesses, those are the
Speaker 3: ones most adversely affected by interest rates. And as we
Speaker 3: start seeing interest rates coming down, as we start seeing
Speaker 3: them a nudge a little bit closer to a little
Speaker 3: bit more reasonableness, which again they are still, in my opinion,
Speaker 3: twice what they should be, because if you compare our
Speaker 3: interest rates to other countries around the world, in the
Speaker 3: developed world, developed countries, you look at what we're paying
Speaker 3: here versus what they're doing in England and France and
Speaker 3: the European Union, while they're all in the European Union.
Speaker 3: But in other countries, Israel and some of these other countries,
Speaker 3: our interest rates are.
Speaker 2: A lot higher than what they are there.
Speaker 3: So if you free up, you know, a couple of
Speaker 3: half a percentage point here, a half percentage point there,
Speaker 3: these small companies can now afford to hire more employees.
Speaker 3: And when we're seeing more all the gains, most of
Speaker 3: the gains coming in companies that are less than five hundred.
Speaker 3: That is a very good sign for our economy and
Speaker 3: a very good bright spot. As far as job openings,
Speaker 3: what they're talking about. This from the Bureau of Labor Statistics,
Speaker 3: the number of job openings was little changed at seven
Speaker 3: point one million in November. US Labor Statistics reported over
Speaker 3: the month, hires were little change. Let me see, hires
Speaker 3: were little change and total separations were unchanged at five
Speaker 3: point one million each within separations both quits three point
Speaker 3: two million and layoffs and discharges one point seven million.
Speaker 3: So that in terms of the labor market is kind
Speaker 3: of on an even keel.
Speaker 2: Let me go back to this particular story from ADP
Speaker 2: talking about ADP.
Speaker 3: Well, one of the things in there, wage gains continue
Speaker 3: to be tempered and those staying on their job seeing
Speaker 3: an average annual increase of four point four percent was
Speaker 3: unchanged from November, while job changers saw So if somebody
Speaker 3: switching jobs, and again, if you happen to be in
Speaker 3: the market marketing, you happen to be looking for a job,
Speaker 3: you know, it's always best to have a job, know
Speaker 3: where you're going to land before you quit. So if
Speaker 3: somebody is a job hopping, they are seeing a six
Speaker 3: point six point six percent increase, which is a little
Speaker 3: bit better. Talking about Bureau of Labor Statistics watching on
Speaker 3: firm payrolls, those will be coming out, I think they
Speaker 3: said on Friday, economic survey by dal Jones expects seventy
Speaker 3: three thousand new jobs for the month, up from sixty
Speaker 3: four thousand in November. Of course we'll see how those
Speaker 3: numbers pan out, and of course we'll have that for
Speaker 3: you on Tuesday. But again the Bureau of Labor Statistics,
Speaker 3: the number of people job opening is to seven point
Speaker 3: one pretty much unchanged. So what boggles my mind is
Speaker 3: that if layoffs are low, if the unemployment, if the
Speaker 3: initial jobless claims are low, and the number of people
Speaker 3: that are out of work is unchanged, how are we going?
Speaker 3: And I can't wait to see the next unemployment number.
Speaker 3: They said it jumped up to four point six percent,
Speaker 3: when it had been at four point one. Then they
Speaker 3: nudged it up to four point two sometime in September
Speaker 3: October thereabouts, then up to four point three I think
Speaker 3: it was in October. How it went to four point
Speaker 3: six percent when you don't see any major layoffs, when
Speaker 3: you don't see any major companies going out of business
Speaker 3: or anything along those lines, initial jobless claims remaining steady,
Speaker 3: the number of people that are out of work remaining
Speaker 3: within a certain range. I just don't understand how they
Speaker 3: came up with that four point six percent unless there's
Speaker 3: some gaming of the numbers trying to downplay the economy.
Speaker 3: Remember Rick Santelly talking about GDP when we got these,
Speaker 3: when they were expecting basically about a three point what
Speaker 3: was a three point eight percent increase in a GDP
Speaker 3: and it came in and roaring at five point a
Speaker 3: four point three percent increase, And he talked about consumer sentiment,
Speaker 3: and he said, you can take those consumer sentiment things
Speaker 3: and take a big shovel and put them in the
Speaker 3: trash can. Because the mainstream media, as I call them,
Speaker 3: the spoon federc urgitators in the mainstream media, as he
Speaker 3: talked about, had poisoned the well. So again, the perception
Speaker 3: versus reality is incredible. Coming up, we're going to talk
Speaker 3: a little bit about transportation stocks. I'm Kevin Gordon, America's
Speaker 3: struck A Network seven hundred WLW tuitions.
Speaker 6: Here's your trucking forecast for the Try State and the
Speaker 6: rest of the country. In the Try State of a
Speaker 6: night partly Claudie, the low down to thirty seven, mostly cloudy. Thursday,
Speaker 6: highs in the lower sixties. Friday, rain early Anyboy early
Speaker 6: afternoon hides into the upper sixties, then Claudie with rain
Speaker 6: mainly in the morning. Saturday, a high fifty eight nationally
Speaker 6: Thursday night into Friday. Snow will impact southeastern Colorado into
Speaker 6: New Mexico. A severe weather thread to flash flenty forecasts
Speaker 6: across the lower Mississippi and Tennessee Valley Friday. Cooler temperatures
Speaker 6: will be seen in the interior West Thursday, as mountain
Speaker 6: snow was seen in the Cascades in northern Rockies Wednesday night. Meanwhile,
Speaker 6: record warm temperatures expected for much of the southeast to
Speaker 6: the Ohio Valley thirsty into Friday.
Speaker 3: Seven hundred WLW. I'm Kevin Gordon. This as America Struck
Speaker 3: In Network and we're talking about jobs and talking about
Speaker 3: what the ADP numbers were and then the job openings
Speaker 3: and unemployment numbers.
Speaker 2: And my problem with that if you miss.
Speaker 3: Any of that, or we missed any of our shows,
Speaker 3: hit up that iHeartRadio app brought to you by our
Speaker 3: friends at Rush Truck Centers. I've mentioned before we're going
Speaker 3: to be talking about transportation stocks and again if you
Speaker 3: want to get an indication of what's going on as
Speaker 3: far as our economy is concerned.
Speaker 2: Now, we know that.
Speaker 3: It's not been a big secret, but that there has
Speaker 3: been You know, the typical trucking recession is generally something
Speaker 3: in the neighborho of twelve to fourteen months. We are
Speaker 3: now into the third year of the trucking recession, with
Speaker 3: freight rates being down and optimism not being there. Well,
Speaker 3: if you look at the transport stocks, somebody is seeing
Speaker 3: something in there that I have been saying that I
Speaker 3: see a positive outlook. I've been very bullish on this
Speaker 3: economy and I think the main thing holding us back
Speaker 3: is higher interest rates. If that number gets freed up
Speaker 3: and people have more money to spend. We're going to
Speaker 3: see businesses expanding. We're going to see people buying more trucks,
Speaker 3: We're going to see people buying more cars. Hell, we
Speaker 3: had the report the other day that they had not
Speaker 3: expec They had expected, what a two percent increase in
Speaker 3: terms of new car sales, and it winds up being
Speaker 3: over six percent. What was it, Ford at six point
Speaker 3: six percent, Toyota up eight percent, something along those lines.
Speaker 3: So those are major purchases, and if people are out
Speaker 3: there buying that, that's good for the economy. That's good
Speaker 3: for as far as GDP numbers and as far as
Speaker 3: people spending money. So the uptick people being optimistic about
Speaker 3: the economy. They may be, you know, on some of
Speaker 3: these surveys, it may be something to the extent of, well,
Speaker 3: you know, I'm feeling pretty good about my situation. You know,
Speaker 3: things seem to be going pretty good on my particular household.
Speaker 3: But in these surveys when they ask them is well,
Speaker 3: what do you think about the rest of the economy, Well,
Speaker 3: you know, all the drum beat, as Rick Santelli said,
Speaker 3: the drum beat from the mainstream media, or as I
Speaker 3: refer to them, the spoon fed regurgitators in the mainstream media.
Speaker 3: They have poisoned the well. I would say that not
Speaker 3: only have they poisoned the well, they have destroyed the well.
Speaker 3: So if people's optimism because of the drum beat from
Speaker 3: the spoon fed regurgitators the mainstream media talking about talking
Speaker 3: down the economy and in my opinion, trying to manufacture
Speaker 3: a recession, people may be answering these surveys and saying, well, gee, whiz.
Speaker 3: You know, I don't know about the rest of the economy,
Speaker 3: so you know, I'm down on the economy. I just
Speaker 3: don't think it's going to expand as much as I
Speaker 3: think think it's going to expand. Now my situation is fine,
Speaker 3: but I'm worried about my neighbor. So again, it's one
Speaker 3: of those things where perception isn't meeting reality. Transportation stocks
Speaker 3: jumped to a record high on economic optimism. US transportation
Speaker 3: stocks closed at a record level January sixth, capping off
Speaker 3: a rebound fueled by prospects of strong economic growth this year.
Speaker 3: Dow Jones Transportation average rose one point seven percent to
Speaker 3: close it and they gave the eighteen thousand thirty three point five,
Speaker 3: eight points above the previous record set in November of
Speaker 3: twenty twenty four, after falling short of a new high
Speaker 3: day earlier. Old Dominion Freight Line and Uber Technologies were
Speaker 3: among the top performers. The gauge slumped last year's President
Speaker 3: Donald Truyn love this.
Speaker 2: Who's this?
Speaker 3: It's from a particular transportation organization, and transportation I'll just
Speaker 3: name it. It's the Transport Topics is the name of the company.
Speaker 3: But I think that a lot of times they get
Speaker 3: their news from the AP or some of these others,
Speaker 3: and then they take it and put it in here.
Speaker 3: So of course they have to throw in here the
Speaker 3: gage swump last year as President Donald Trump's trade war
Speaker 3: rippled through the markets and a downturn in the trucking
Speaker 3: sector dragged on, while flight chaos due to the longest
Speaker 3: government shutdown. Okay, so they throw that sentence in right
Speaker 3: after Donald Trump's trade war, but they don't mention that
Speaker 3: the flight chaos due to the longest government shutdown by
Speaker 3: Chuck Schumer and the Democrats. Why don't they put that
Speaker 3: in this particular story, because it was, in fact the
Speaker 3: Schumer shutdown, the longest shutdown in history, added to pain
Speaker 3: for airlines. The rebound came amid broad outperformance in stocks
Speaker 3: closely linked to the health of the US economy. Let
Speaker 3: me repeat that, the rebound came amid broad out performance
Speaker 3: in stocks closely linked to the health of the US economy.
Speaker 3: According to Michael a'rouric, chief market strategists at Jones Trading,
Speaker 3: the transports have had a couple of major headwinds over
Speaker 3: the past twelve months the kept investors cautious, notably the
Speaker 3: trade war, terrifs and government shutdown. The group is catching
Speaker 3: up to the market and the economy. Transport stocks added
Speaker 3: up to one point two percent advanced January the fifth,
Speaker 3: when airlines and logistics shares gained on expectations of US
Speaker 3: intervention in oil rich Venezuela.
Speaker 2: Will lead to lower fuel prices.
Speaker 3: The march to the January sixth record came amid strength
Speaker 3: across the US equity market, with the S and P
Speaker 3: five hundred notching its own fresh highs. And we're not
Speaker 3: talking about highs for the week, highs for the day,
Speaker 3: highs for the month. We're talking about our stock market
Speaker 3: and looking at what is going on there is the
Speaker 3: highest in the history of the stock market, which means
Speaker 3: that people are feeling very good despite what the spoon
Speaker 3: fed regurgitators in the mainstream media are trying to propose
Speaker 3: now speaking of oil gas and talking about possibility of
Speaker 3: in there we just mentioned in terms of people thinking
Speaker 3: in terms of the transportation stock with fuel prices coming down,
Speaker 3: let's take a look at oil and gas prices real quick.
Speaker 2: Here.
Speaker 3: West Texas Intermediate crewed currently is at fifty six dollars
Speaker 3: and two cents a barrel. That is down a one
Speaker 3: dollar and eleven cents. As it's back up here a second.
Speaker 3: When Nicholas Maduro was captured Saturday night into Sunday morning,
Speaker 3: people were saying, oh, the old markets are going to
Speaker 3: go crazy, and of course they went up a little bit.
Speaker 3: But then when the dust settle and people take a
Speaker 3: look at this and what could possibly be happening down
Speaker 3: there in Venezuela and what's going on in the other
Speaker 3: oil markets, things have settled considerably.
Speaker 2: So when they shot up.
Speaker 3: They are now down a dollar eleven from just yesterday,
Speaker 3: or a one point ninety four percent decrease. West Texas
Speaker 3: Intermediate crude Brent krude currently is at fifty nine dollars.
Speaker 3: We are talking right now, both of the major oil
Speaker 3: markets people tracked West Texas Intermediate and Brent crude both
Speaker 3: below sixty dollars during the Biden administration, they had gotten
Speaker 3: up to over one hundred and twenty. People were saying
Speaker 3: it during the Biden administration, we will never see oil
Speaker 3: down below seventy dollars a barrel, so called experts. Brent
Speaker 3: crude currently is fifty nine dollars and ninety seven cents
Speaker 3: a barrel. That is down seventy three cents or one
Speaker 3: point to zero percent. Donald Trump has not been in
Speaker 3: office a year yet. Okay, the inauguration was January the twentieth.
Speaker 3: Just since January the twentieth, Brent West Texas Intermediate is
Speaker 3: down twenty dollars and eighty seven cents a barrel, or
Speaker 3: twenty seven percent. Let me repeat that twenty seven percent.
Speaker 3: Brent crude currently at the fifty nine ninety seven is
Speaker 3: down nineteen dollars and ninety three cents from where it
Speaker 3: was January the twentieth, when Trump took office. That means
Speaker 3: that that is down twenty five percent.
Speaker 2: And haven't even hit the year at We're what.
Speaker 3: January the eighth, so we got twelve more days. Just
Speaker 3: absolutely incredible. Gasoline prices across the board. Current national average
Speaker 3: is two dollars and eighty two cents a gallon. Diesel
Speaker 3: is at three dollars and fifty fifty four cents. Now,
Speaker 3: taking a look at oil, the gasoline prices at two
Speaker 3: dollars and eighty two cents. We are now back to
Speaker 3: the prices where they were close close to the prices
Speaker 3: back in twenty twenty when we were entered independent for
Speaker 3: the first time since nineteen forty nine. Gasoline at that
Speaker 3: time was at two dollars and sixty six cents, so
Speaker 3: we were only fourteen cents higher than that, or six
Speaker 3: percent compared to a year ago.
Speaker 2: We are down a year ago.
Speaker 3: We are down twenty five cents a gallon national average.
Speaker 3: Now this could be you know, in your neighborhood or thereabouts,
Speaker 3: you could be actually even lower than give you an
Speaker 3: example in my neighborhood. I think the average across the
Speaker 3: board in Kentucky right now is somewhere around two dollars
Speaker 3: and fifty five cents a gallon in my neck of
Speaker 3: the woods, in my neighborhood, not even my county, just
Speaker 3: my zip code, gasoline prices are down to two dollars
Speaker 3: and thirty nine cents. That's down twenty cents from last week.
Speaker 3: Now there are there are a couple and this is
Speaker 3: where your gas or where your fuel app comes into play.
Speaker 3: Because you got these apps that you can check, you
Speaker 3: know what fuel prices are around. There are some gas
Speaker 3: stations in my zip code that are selling gasoline to
Speaker 3: two and seventy nine cents. That's a forty cent per
Speaker 3: gallon difference. Again, cost conscious, go for the ones, and
Speaker 3: these are reputable companies. At two dollars and thirty nine cents,
Speaker 3: you don't have to pay forty extra cents a gallon.
Speaker 3: Diesel currently at three dollars and twenty nine cents to
Speaker 3: a high of three dollars and thirty nine cents, so
Speaker 3: they're within about ten cents of each other, and that
Speaker 3: has been pretty much unchanged for the last couple of weeks.
Speaker 3: So I kind of give you an indication of what's
Speaker 3: going on as far as gas prices are concerned. Coming up,
Speaker 3: we want to talk a little bit about uh. I
Speaker 3: want to talk a little bit about oil and some
Speaker 3: of the forecasts coming out of what we're going to
Speaker 3: be seeing down in Venezuela. I'm Kevin Gordon, America's Trucking
Speaker 3: Network seven hundred WLW.
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Speaker 2: I expected to be a lot easier. I thought it
Speaker 2: was going to be a piece of cake. I didn't
Speaker 2: know what stuff to take next. I was transitioning from
Speaker 2: the military. I was a vehicle.
Speaker 6: Gunner, an avionic specialist.
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Speaker 2: could do anything. I missed my unit, my family, playing
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Speaker 2: I was too proud, and then I thought, if I'm
Speaker 2: going through this, other veterans have gone through too. Right.
Speaker 2: I started to open up and it made it huge difference.
Speaker 2: So I reached out when I saw that I wasn't alone.
Speaker 8: Because before I was able to take on my next mission,
Speaker 8: I had to take on just taking care of myself.
Speaker 2: It's fine purpose.
Speaker 7: Go to makethconnection dot net to learn how other veterans
Speaker 7: have overcome the challenges of transitioning out of the military.
Speaker 10: A message from DAV to all returning veterans. Thank you.
Speaker 10: Thank you for doing your duty. Thank you for doing
Speaker 10: our bidding. Thank you for laying it all on the line.
Speaker 10: Thank you for stepping up and not backing down. Thank
Speaker 10: you for putting your future on hold to put our
Speaker 10: enemies on notice. Thank you for putting your buddies' lives
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Speaker 7: Live from the seven hundred WLW Studio WLW.
Speaker 2: I'm Kevin Bordon.
Speaker 3: Over the weekend with the capture of Nicholas Maduro and
Speaker 3: a change in well, not necessarily the regime because some
Speaker 3: of the people that were there are still in charge. However,
Speaker 3: maybe a little bit more cooperation with the US, and
Speaker 3: cooperation in terms of getting rid of the drugs coming
Speaker 3: into this country, being coming out of that country into
Speaker 3: our country, and actually around the world. They were talking about, Oh,
Speaker 3: you know Donald Trump, you know he thinks that that
Speaker 3: you know that the oil companies going back in there,
Speaker 3: that it's gonna it's going to take three years in
Speaker 3: order for the those oil supply to come back from Venezuela. Okay,
Speaker 3: before Hugo Chavez took control of the government down there
Speaker 3: about fifteen, almost twenty years ago, they were pumping out
Speaker 3: three million barrels of oil per day. They are down
Speaker 3: below a million barrels. I think the number I was
Speaker 3: seeing was somewhere in the neighborhood. Well, it is below
Speaker 3: a million dollars a million barrels, So two thirds of
Speaker 3: the oil that was being pumped is not being pumped.
Speaker 3: And of course, with the infrastructure, when you have a
Speaker 3: communist dictator, and you've got communists of collectivism that you
Speaker 3: know everybody, you know, nobody can everybody is equal, you know, nobody,
Speaker 3: nobody can make more, and you know there's no incentive
Speaker 3: for anybody to do anymore. Well, of course, if there's
Speaker 3: no incentive for you to improve your situation or no
Speaker 3: to do better on the job because you can get
Speaker 3: a pay raise. The infrastructure down there, as you see
Speaker 3: in Cuba and every communist the economy, the infrastructure goes
Speaker 3: to hell in a handbasket.
Speaker 2: So they're talking about, well, for these oil.
Speaker 3: Companies to get back in there, because some of this
Speaker 3: stuff has deteriorated, it's going to take three years or
Speaker 3: more for them to get back up and running. This
Speaker 3: reminds me of the knuckleheads back during the Clinton administration
Speaker 3: when they were talking about drilling for oil and an
Speaker 3: war because at that time, again history repeating itself, gas
Speaker 3: prices were high, oil prices were high compared to the economy.
Speaker 3: At that point, people were saying, well, an war, and
Speaker 3: they were saying, well, you know, that's pristine area up there.
Speaker 3: We can't go in there. That's that's going to ruin
Speaker 3: the environment. We're gonna you know, the environment will be
Speaker 3: destroyed forever. Even though if you look at the map
Speaker 3: of at Alaska it amounted to well, give you put
Speaker 3: it in an example.
Speaker 2: If you look at a football field.
Speaker 3: And you say, okay, here is the map of Alaska,
Speaker 3: the whole hundred yards and everything. The area that they
Speaker 3: were looking to drill in was basically less than what
Speaker 3: the end zone would be and the actual drilling because
Speaker 3: they were getting better at technology and it's even better today.
Speaker 3: But basically, if you look at where the kicking tea
Speaker 3: would be on a kickoff, that would be the area
Speaker 3: of the Alaska that would be used for drilling purposes.
Speaker 3: So you look at the entire football field and then
Speaker 3: you see that little area where the kicking tea would be,
Speaker 3: that would be where the drilling was. And at the
Speaker 3: time they were saying that, oh well, even if they
Speaker 3: started today, it would take three years before that would
Speaker 3: come online. Three years later, when that topic came up,
Speaker 3: they said, well, you know, if you start drilling, it'll
Speaker 3: be three years. Well, you know, if you would have
Speaker 3: started three years, we'd have been there by now, and
Speaker 3: we would we're still waiting for that to be up
Speaker 3: and running the way it should be So with these
Speaker 3: knuckleheads talking about Venezuela, it's going to be three years
Speaker 3: before this is back up and running. Well, not so fast.
Speaker 3: There are folks I mentioned yesterday that with Donald Trump
Speaker 3: working with these oil companies and the oil companies champion
Speaker 3: at the bit to get there, that when you have
Speaker 3: the willpower, when you have the incentive, and when you
Speaker 3: have well the willpower basically is what it boils down to,
Speaker 3: you can get it done. There are estimates now that
Speaker 3: within a short period of time some of those things
Speaker 3: will come up, and there is new prediction or coming
Speaker 3: out from the White House that this could be up
Speaker 3: and running in a major way within eighteen months again,
Speaker 3: not three.
Speaker 2: Years, not four years, not five years.
Speaker 3: Why some of these people are explaining knowing what you're doing,
Speaker 3: turning it over to the experts, making sure and get
Speaker 3: you know, you see in some of these counties and
Speaker 3: states and whatever, when they're trying to build a freeway
Speaker 3: and stuff, you see the orange barrels forever. A lot
Speaker 3: of times these states are not smart enough to go
Speaker 3: in and talk to these contractors and say, okay, here's
Speaker 3: the specs, here's the thing, we want this done in
Speaker 3: a X X period of time, and instead of it
Speaker 3: dragging out, if you get it done earlier, here is
Speaker 3: a bonus for you. And surprise, surprise, when there's a
Speaker 3: bonus on the line, a.
Speaker 2: Two year project winds up taking a year.
Speaker 3: And so with this in mind, going down there to
Speaker 3: Venezuela and going in there with the blessing of the
Speaker 3: government down there, and with the oil companies from the
Speaker 3: United States, because again when you get right down to it,
Speaker 3: in terms of as far as drilling for oil, American
Speaker 3: company nobody drills for oil, as I've said before, cheaper, cleaner,
Speaker 3: or safer than the US. So you send those people
Speaker 3: down there with their no how and get those things
Speaker 3: up and running, and that again changes the oil market
Speaker 3: they're talking about as far as how that would happen.
Speaker 3: Venezuela pump more than three million barrels prior to Hugo Chavez,
Speaker 3: that could change dramatically. Talking about oil prices, we have
Speaker 3: talked about that earlier. Oil extended declines on Wednesday as
Speaker 3: investors digested statements from President Donald Trump the US had
Speaker 3: reached a deal to import up to two billion dollars
Speaker 3: worth of Venezuela and oil, a move that could lift
Speaker 3: supplies to the world's largest oil consumers. Both benchmarks slipped
Speaker 3: more than a dollar during the previous trading session, with
Speaker 3: a market participants expecting ample global supply this year. The
Speaker 3: deal between Washington and Caracas could initially require cargoes that
Speaker 3: were bound for time, because there's a lot of oil
Speaker 3: that had been pumped out of the ground there in
Speaker 3: Venezuela that is sitting in storage tanks and on tankers
Speaker 3: that have been unable to move that out of that country.
Speaker 3: So there's a build up of supplies they're ready to
Speaker 3: be put on the market. Venezuela has millions of barrels
Speaker 3: of oil on tankers in storage tanks that has been
Speaker 3: unable to ship since mid December due to a blockade
Speaker 3: on exports imposed by Trump. The blockade was part of
Speaker 3: the US pressure campaign against Venezuela President Nicholas Maduro's government
Speaker 3: that culminated the US forces capturing him over the weekend,
Speaker 3: and of course this oil being sanctioned again. These sanctions
Speaker 3: began back during the Biden administration because trying to keep
Speaker 3: the oil flow to Russia, trying to hold back on
Speaker 3: their millions and billions of dollars that they make from
Speaker 3: their oil trade, cutting that pipeline off for them, which
Speaker 3: cuts off the spickett of money that they can fund
Speaker 3: their war machine, trying to bring that conflict to an end.
Speaker 3: Top Venezuela officials have called Maduro's capture a kidnapping and
Speaker 3: accused the US of trying to steal the country's vast
Speaker 3: oil reserves. Of course, nothing is further from the truth.
Speaker 3: Venezuela will be turning over between thirty and fifty million
Speaker 3: barrels of sanctioned oil to the US. Let's see, adding
Speaker 3: to geopolitical risk. US is attempting to seize a Venezuela
Speaker 3: and linked oil tanker after it was more than two
Speaker 3: week long pursuit across the Atlantic. Some of the other
Speaker 3: things going on, the oil prices have been affected by now,
Speaker 3: get this providing support to prices.
Speaker 2: US creud stocks drop by.
Speaker 3: In course, you know, when you on a weekly basis,
Speaker 3: they will look at how much oil is in the pipeline,
Speaker 3: how much oil is in storage, and what is available
Speaker 3: as far as reserves are concerned, and then of course
Speaker 3: gasoline stockpiles and that type of thing. Get this providing
Speaker 3: some support to prices. US crew stocks dropped by three
Speaker 3: point eight million barrels four hundred to the number. Energy
Speaker 3: Information Administration had expected an estimate of a rise of
Speaker 3: four hundred and forty seven thousand barrels. So the barrels
Speaker 3: the amount of storage dropped by three point eight They
Speaker 3: had predicted a rise of four hundred and forty eight
Speaker 3: They only missed four hundred and forty seven thousand barrels.
Speaker 3: They only missed that estimate by eight hundred and fifty percent.
Speaker 3: Gasoline stockpiles increased by seven point seven million barrels in
Speaker 3: the week. They had expected three point two million barrels build.
Speaker 3: They only missed that by one hundred and forty one percent.
Speaker 3: Dissolate stockpiles, which include diesel and heating oil, climbed by
Speaker 3: five point six million barrels.
Speaker 2: A week previous. They had expected a two.
Speaker 3: Point one so they missed that one by one hundred
Speaker 3: and sixty seven per So again't so much for the
Speaker 3: so called experts. Well, folks, we're up against clock. Here,
Speaker 3: time to us to step out the door. I'm Kevin Gordon,
Speaker 3: America's Trucking Network seven hundred. Stay tuned for ATI Radio.
Speaker 3: By the way, I'm Kevin Gordon. America's trucking network seven
Speaker 3: hundred WLW