Less-than-truckload carrier Old Dominion Freight Line announced a 4.9% rate increase effective November 3, a month earlier than last year. Other carriers like ABF Freight and Saia also implemented similar rate hikes ahead of schedule. FedEx Freight will see a 5.9% increase in January. Weak demand in the industrial sector has persisted, with manufacturing activity down. Despite challenges, LTL carriers continue to flex pricing power, with Old Dominion named the top national carrier for the 16th year. Shares of LTL carriers rose between 2% and 4% amid the rate increase news.

Read more at Yahoo Finance: LTLs hold pricing line; Old Dominion announces 4.9% GRI