Ports are reopening today, as the longshoremen's union agreed with terminal operators and shipping liners to extend their previous contract through January 15.

Even with the pickup, the three-month average eased to 119,000, one of the lowest levels since 2020.

With September's order books now closed, the velocity of debt sales is becoming clear, shattering records from New York to Beijing.

The strike could disrupt the movement of goods and impact prices and the broader economy, similar to supply-chain disruptions during the pandemic.

"The most important thing is going to be for the carriers, shippers, and workers to come to terms. There's really no substitute for the ports being up and running."

Fed Chair Powell says rates will fall, but 'over time,' adding that the FOMC "is not a committee that feels like it's in a hurry to cut rates quickly."

Consumers expect prices to rise at an annual rate of 2.7% over the next year,

The recent survey also predicts that the federal funds rate will reach 3%-3.25% by the end of next year.