We've had a trifecta of economic numbers released this morning. First, the Commerce Department says personal incomes which were up .5% for May when expectations were for .2%. The same report says consumer spending increased .3% for the month, matching estimates. Separately, the Labor Department says there were 346,000 new weekly jobless claims last week, just about in line with estimates which were for 345,000.
The cooling stock market is putting more of a chill on IPOs. HD Supply has now priced shares for an offering today at $18 according to the New York Times. The original range for the company, a Home Depot (HD) spinoff, was $22 to $25. Meanwhile, the Times says Tremor Video has priced its offering at $10 a share, below an anticipated range of $11 to $13. Separately, CDW has lowered its range, $3 to $5 down to somewhere between $17 and $18 each. And while these companies move forward with their IPOs, others including Smashburger have decided within the past week to shelve theirRead More »from New Data on Incomes, Spending, Jobless Claims; IPO Problems; Dish’s Empty Plate