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Hey listeners, your money briefing is on a break, but we're still here to keep you informed on important money matters.

Today, we've got a peek under the hood of the U.S. economy, courtesy of earnings season and company's

financial reports.

Hey listeners, it's Friday, August 1st. I'm Liz Young for the Wall Street Journal.

This is what's news and earnings, our look at the broad themes that stood out in the latest earning season. Today, we're taking a look at the logistics industry. Those behind-the-scenes companies you may not think much about, but that are responsible for delivering you the goods you use every day. One of the biggest headlines of this earning season has been the news that two railroad

giants plan to merge in a deal that would create the first coast-to-coast rail operator in U.S.

history. The deal would tie together the networks of Union Pacific, which operates to the west of the

Mississippi River, and Norfolk Southern, which has lines to the east. Beyond the railroads, companies

such as warehouse operator Prologis, trucking giant J. east. Beyond the railroads, companies such as warehouse operator

Prologists, trucking giant J.B. Hunt and parcel carrier United Parcel Service have been navigating

rapid shifts in freight demand due to President Trump's trade war. Importers have rushed in

goods to beat tariffs and slowed orders when duties have increased. At the same time, the logistics

sector continues to grapple

with a year's long slump in freight demand following the pandemic. Some companies in the sector

see reason for optimism. When I spoke to Perlodge's CEO Hamid Mogadam after their earnings report,

he told me the company is seeing more demand for warehouse's purpose-built for specific tenants.

People, particularly the big companies

with real balance sheets and real businesses, have been putting off these growth expectations

...