Afternoon Note
NFIB Small Business Optimism
Small business optimism posted a record high, coming in at 108.8 for the month of August. This was a record high, easily surpassing the previous record of 108.0 set back in 1983 during Ronald Reagan’s presidency. NFIB President and CEO Juanita D. Duggan commented, “Today’s groundbreaking numbers are demonstrative of what I’m hearing everyday from small business owners – that business is booming. As the tax and regulatory landscape changed, so did small business expectations and plans.”
Highlights:
JOLTS
Job openings recorded a new series high, coming in at 6.9 million. Job openings increased in finance and insurance (+46,000) and nondurable goods manufacturing (+32,000), but decreased in retail (-85,000), educational services (-34,000) and federal government (-19,000).
With small business optimism and job openings hitting all-time records, could equity indices be far behind? This morning the Dow opened lower and traded down 90 points before gaining its footing and rallying shortly after Canadian Foreign Minister Chrystia Freeland indicated that trade discussions over the weekend were constructive and she indented to continue negotiating. The Dow is currently higher by 140 points and is @ 620 points, 2.40%, away from an all-time high.
Apple (AAPL) and its fellow FAANG stocks are all higher on the day, AAPL is leading the group by trading higher 2.20% a day before its latest iPhone update.
Breadth:
Tweet |
3/28/2024 1:39 PM | Fruitful Quarter |
3/28/2024 9:50 AM | LISTEN TO THE MARKET |
3/27/2024 1:40 PM | Mostly Higher |
3/27/2024 9:32 AM | U-TURN? |
3/26/2024 1:08 PM | Everything Is Up |
3/26/2024 9:42 AM | TAPPED OUT (I HOPE YOU AT LEAST GOT A T-SHIRT) |
3/25/2024 1:33 PM | Not A Mutiny |
3/25/2024 9:35 AM | STAYING THE COURSE…BEYOND TECH |
3/22/2024 12:56 PM | Toll on Americans |
3/22/2024 9:38 AM | A TAD TIRED |
3/21/2024 1:55 PM | Building on Gains |
3/21/2024 9:30 AM | A COMFORTING FED |
3/20/2024 1:33 PM | Pivotal Moment |
3/20/2024 10:00 AM | HERE COMES THE FED |
3/19/2024 1:33 PM | Picking Up Steam |
3/19/2024 9:35 AM | RUMBLINGS IN THE BOND MARKET |
3/18/2024 1:48 PM | Mag 7 is Back |
3/18/2024 9:39 AM | THE PARTY IN SAN JOSE WILL BE LIT |
3/15/2024 1:38 PM | Realtors Settle |
3/15/2024 9:33 AM | AN UNEASY PAUSE |
3/14/2024 1:43 PM | Sticky Inflation |
3/14/2024 9:48 AM | GOING TO A GO-GO |
3/13/2024 2:16 PM | Taking a Breather |
3/13/2024 9:51 AM | ALL SO EPIC |
3/12/2024 1:42 PM | Marching Higher |
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