SVET Reports
Tuesday's Markets Update (January 9, 2024)
On Tuesday, the Nasdaq and other major stocks were mixed, following a tech-driven rally. Worst performers included real estate, materials, industrials, and utilities. Small business sentiment improved in December but remained pessimistic. Apple, Amazon, Alphabet, Netflix, and NVIDIA shares rose after initially trading lower, while Tesla dropped. BTC corrected slightly after closing above 45K in the previous session. ETH also grew but still lags behind Bitcoin.
Details
In December, the NFIB Small Business Optimism Index rose to 91.9, the highest in five months. Inflation was the top concern for 23% of owners, replacing labor quality. Expectations for better business conditions and raised compensation increased, while selling prices and real sales outlook remained stable. However, small business owners remain pessimistic about the economy.
The RealClearMarkets/TIPP Economic Optimism Index improved to 44.7 in January 2024, highest in eight months, beating expectations but still negative. Economic Outlook and Personal Financial Outlook increased, with investor optimism up 20% and non-investors up 5%.