"The Vanguard S&P 500 ETF ( NYSEMKT: VOO) lost 0.6% last week, but may gain nearly all that back in just one day Monday. The ETF is up 0.5% premarket as investors get set to receive a whole raft of economic news this week. On Tuesday, the U.S. Bureau of Labor Statistics (BLS) will report nonfarm payrolls figures for November, giving us our freshest data yet on the state of the jobs market."
"The U.S. Census Bureau (which is part of the Commerce Department) will also release retail sales figures for October - less important as it will be arriving a month late because of the government shutdown, and will not tell us how retail sales held up during the shutdown, either. BLS will return two days later to report on the Consumer Price Index (CPI) for November, an important gauge of the inflation rate."
"Over the weekend, robotic vacuum cleaner company iRobot ( Nasdaq: IRBT) filed for bankruptcy protection. Strangely, the company couched its announcement in growth terms, emphasizing its plan to enter into a restructuring support agreement with its Chinese contract manufacturer Shenzhen PICEA Robotics Co., Ltd. "Picea will receive 100% of the equity interests in the Company," said iRobot, "which will delever the Company's balance sheet and enable iRobot to continue operating in the ordinary course, pursue its product development roadmap, and maintain its global footprint.""
VOO declined 0.6% last week and was trading up 0.5% premarket as markets awaited several economic releases. The Bureau of Labor Statistics will report November nonfarm payrolls on Tuesday, providing updated labor-market data. The Census Bureau will release October retail sales a month late due to the government shutdown, limiting its usefulness for shutdown-period activity. The BLS will publish the November Consumer Price Index two days after payrolls, an important inflation gauge. Robotic vacuum maker iRobot filed for bankruptcy, announced a restructuring deal with Shenzhen PICEA, and indicated Picea will take 100% of equity, wiping out existing shareholders.
Read at 24/7 Wall St.
Unable to calculate read time
Collection
[
|
...
]