"Unless Congress passes a new continuing resolution by the end of the day, the government will "shut down" at midnight, causing turmoil in the economy. Not the smallest threat, President Trump has threatened to fire a certain number of federal workers if a shutdown happened, adding to unemployment. Investors are holding their breath waiting to see what happens, and the Vanguard S&P 500 ETF ( NYSEMKT: VOO) is retreating 0.1% premarket."
"Adding to the uncertainty, CNBC reports this morning that if a shutdown does happen, the government will cease issuing certain data that investors depend upon to gauge the health of the economy, Friday's scheduled payrolls report for September, for example. And of course, the absence of jobs reports will make it harder to calculate unemployment trends and, by extension, gauge the likelihood of a second Federal Reserve interest rates cut in October."
"In earnings news, United Natural Foods ( Nasdaq: UNFI) beat earnings by a nickel this morning, reporting a fiscal Q4 2025 loss of $0.11 per share where analysts were expecting a 16-cent loss. Revenue was also better than expected at $7.7 billion. Rounding out the good news, United Natural Foods forecast fiscal 2026 earnings per share of $1.50-$2.30, versus the consensus of $1.46. Good earnings news plus good guidance has United Natural Foods stock trading up nearly 6% this morning."
The U.S. government faces a funding lapse at midnight unless Congress approves a continuing resolution, risking a shutdown that would halt issuance of key economic data. Payrolls and other reports could be delayed, complicating unemployment calculations and the assessment of Federal Reserve rate-cut prospects. Investor anxiety has pushed the Vanguard S&P 500 ETF (VOO) slightly lower in premarket trading. President Trump has threatened to fire federal workers in the event of a shutdown, increasing potential unemployment. Corporate results are mixed: United Natural Foods beat expectations, issued stronger guidance and rallied near 6%, while Paychex reported modest earnings beats with revenue matching forecasts.
Read at 24/7 Wall St.
Unable to calculate read time
Collection
[
|
...
]