NFIB October Small Business Optimism 90.7 vs 90.5 Est; 90.8 Previous
Portfolio Pulse from Charles Gross
The NFIB Small Business Optimism Index for October came in at 90.7, slightly above the estimate of 90.5 but below the previous month's figure of 90.8.
November 14, 2023 | 11:02 am
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NEUTRAL IMPACT
The SPY ETF, which tracks the S&P 500, may experience minor fluctuations due to the NFIB Small Business Optimism Index being marginally above estimates but showing a slight decline from the previous month.
The NFIB index is a minor indicator relative to other economic data and may not have a strong impact on the broad market that SPY represents. The index's slight increase over estimates suggests a neutral to marginally positive sentiment, but the month-over-month decline tempers expectations.
CONFIDENCE 75
IMPORTANCE 30
RELEVANCE 50