"Bureau of Labor Statistics data that should have told investors the state of the job market (and prospects for further interest rate cuts from the Federal Reserve) were due out today, but for the second month in a row this data has gone missing. Minimal federal government activity during the shutdown means no BLS report will issue today. All investors have to go on, really, is economists' forecast of what the data should have shown."
"What we do have today is earnings news. In robotics, iRobot ( Nasdaq: IRBT) beat earnings by 68 cents this morning, but still reported a loss for Q3 - $0.23 per share. Sales for the quarter were $145.8 million, less than the $150 million analysts expected, and iRobot stock opened down 12.5% today."
"And in nuclear news, electric utility company Constellation Energy Group ( Nasdaq: CEG), an S&P 500 component company, this morning missed earnings by a nickel. Q3 profit was $3.04 per share. On the plus side, Constellation reported $6.6 billion in revenue for the quarter, which was about $110 million more than forecast."
Federal government shutdown halted Bureau of Labor Statistics releases for a second consecutive month, leaving investors without official jobs data and relying on economists' forecasts. Economists forecasted a loss of about 60,000 jobs and an unemployment rate of 4.5%. The Vanguard S&P 500 ETF opened down 0.35% amid the data gap. iRobot beat EPS by $0.68 but posted a Q3 loss of $0.23 per share, with $145.8 million in sales below expectations and shares down 12.5%. Lionsgate missed by $0.03, lost $0.20 per share, and reported $475.1 million revenue. Constellation missed by $0.05 with $3.04 EPS and $6.6 billion revenue.
Read at 24/7 Wall St.
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