Stocks Close At New High As Business Owner Optimism Surged
In the 46 years that the National Federation of Independent Business (NFIB) has been tracking business owner sentiment, only 10% of the monthly readings were better than last month's 1.6 percentage point rise.
January's surge in optimism occurred even as the business owner optimism index has hovered in record territory since 2017.
Business owners employ about half the U.S. labor force and created about 70% of new jobs in the last decade, according to U.S. Bureau for Economic Analysis data.
"Only a major unexpected event can disrupt the economy in the near term," NFIB said Tuesday in releasing the optimism index report. "Otherwise, there is no reason this expansion can't continue, benefiting small business owners, employees, and consumers."
The Standard & Poor's 500 stock index, a proxy for progress, closed Friday at a new all-time high, ending the week on Friday at 3,380.16.
The Standard & Poor's 500 (S&P 500) is an unmanaged group of securities considered to be representative of the stock market in general.??It is a market-value weighted index with each stock's weight proportionate to its market value. Index returns do not include fees or expenses. Investing involves risk, including the loss of principal, and past performance is no guarantee of future results.??The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted.
Nothing contained herein is to be considered a solicitation, research material, an investment recommendation, or advice of any kind, and it is subject to change without notice.??It does not take into account your investment objectives, financial situation, or particular needs. Product suitability must be independently determined for each individual investor.
This material represents an assessment of the market and economic environment at a specific point in time and is not intended to be a forecast of future events or a guarantee of future results. Forward-looking statements are subject to certain risks and uncertainties. Actual results, performance, or achievements may differ materially from those expressed or implied. Information is based on data gathered from what we believe are reliable sources. It is not guaranteed as to accuracy, does not purport to be complete, and is not intended to be used as a primary basis for investment decisions.??
© 2022 Advisor Products Inc. All Rights Reserved.