Afternoon Note
With so much focus on the Federal Reserve, big banks, and the needs of big business, we continue to overlook the importance of small businesses which are the true backbone of the nation and real key to ever getting clear of the economic abyss. On that note, today’s small business optimism index read is disheartening.
Slipping 0.3 to 94.1 reading the number has edged lower since peaking at 98.1 back in February of last year.
Then big problem for small business mirrors that of their larger brethren. Earnings, or lack thereof, peaked for large US corporations seven quarters ago. However, small businesses never enjoyed a similar renaissance (in part because mostly US-centric businesses have been victims of slow domestic recovery) but are also sliding.
Maybe things will get better if small businesses are right and the economy does improve.
As for the broad market, some of this selloff is because of the strong dollar and some is from profit-taking and some anxiety. The selling on light volume reflects a lack of love but also a lack of intense fear. I’m concerned but not fretting and of course there are names I want folks to buy and hope they become a little cheaper.
Comments |
The FED doesn't need to do a rate increase but instead on a slower pace of the quantitative easing start retiring debt and monetary tightening. All everyone hears is rate hikes not monetary tightening. Banks/ Investment Banks need to start increasing reserves above current mandates by 15-25%. Not implying all at one time but over a time period that doesn't shock the markets. John on 10/11/2016 2:02:07 PM |
HRC has promised to raise Taxes and Small Business will bear the brunt of those increase as they have already with Healthcare burdens and excessive regulations . She is now the odds on favorite to win in November so it was a foregone conclusion the Index would decline. Garro on 10/12/2016 3:48:21 PM |
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