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The U.S. economy shrank at a dizzying 32.9% annual rate in the April-June quarter — by far the worst quarterly plunge ever — when the viral outbreak shut down businesses, throwing tens of millions out of work and sending unemployment surging to 14.7%, the government said July 30.

The COVID-19 pandemic prompted several congressional transportation leaders to examine the Federal Emergency Management Agency’s ability to assist citizens during events that impede access to freight and passenger corridors.

Oil was propped up by the biggest decline in U.S. crude stockpiles this year, signaling a bright spot in a market weakened by the COVID-19 pandemic.

President Donald Trump said that Republicans and Democrats aren’t close to resolving their differences over a coronavirus stimulus package, and that Congress may need to pass some stopgap measures to prevent aid from running out.

With much of the country looking to Washington for assistance, slow-moving negotiations on the next COVID-19 economic stimulus package have been marked by partisan disagreements.

Oil declined as investors turned their focus to domestic supply, with expectations for another build in U.S. stockpiles.

U.S. consumer confidence declined in July by more than forecast as a pickup in COVID-19 cases rattled Americans’ sentiment about prospects for the economy and the job market.

Wall Street’s rally got back on track July 27, while gold rushed to a record at the start of a week packed with potentially market-moving events.

As the coronavirus pandemic took hold, it disrupted freight demand in many segments of the economy, forcing some carriers to furlough drivers while others were quick to hire those furloughed drivers as a way to swiftly onboard experienced commercial vehicle operators.

The 100-year-old over-the-road motorcoach industry is struggling for survival as most of the nation’s 36,000 buses are sitting in parking lots because of the COVID-19 pandemic.