UP 3Q Earnings down

https://www.trains.com/trn/news-reviews/news-wire/union-pacific-earnings-fall-amid-volume-slump-but-operations-and-service-improve/

Volumes continue to decline suggesting a slowing economy balanced somewhat by raising prices. Labor costs are up a bit as they are restaffing to overcome complaints about poor service due to manpower shortages.

CSX also reports declining volume.

Transportation is a leading indicator. The US economy continues to slow.