Small Business Optimism Index Remains Elevated: JOLTS Economic Data

Small Business Confidence Remains Elevated

Adviser Investments’ Chief Investment Officer Jim Lowell has the market analysis for Tuesday, April 9. Major U.S. stock indexes declined as investors reacted to global concerns related to a potential trade war between the U.S. and E.U. as well as the International Monetary Fund’s 2019 forecast downgrade. The Dow Jones Industrial Average fell 0.7% and both the S&P 500 and NASDAQ dropped 0.6%. In terms of economic data, the Small Business Optimism Index rose slightly for the third month in a row, remaining at elevated levels even as small businesses report difficulty finding skilled workers. Meanwhile, the Labor Department’s Job Openings and Labor Turnover Survey indicated that job openings decreased in February at the fastest pace since 2015. That figure continues to exceed the number of unemployed workers, and the quits rate remained at 2.3% for the ninth consecutive month as employees demonstrate optimism about finding a new or better-paying job.

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