The National Federation of Independent Business (NFIB) issued its survey-based Small Business Economic Trends report today. The report shows that optimism among small business owners increased in October, though its numbers are still consistent with those of a recessionary economy. The 23-page report (which you can access in full here) also notes that average employment per firm did not grow in October.
The Monthly Wholesale Trade report for Sales and Inventories issued by the Commerce Department showed an increase in September merchant wholesaler sales (excluding manufacturers) of .4 percent. Inventories were up 1.5 percent. You can see the full report here.
In spite of the increased confidence and inventories, U.S. markets were down on Tuesday. The Dow Jones Industrial Average fell 60.09 points to 11,346.75 while the Nasdaq dropped 17.07 points to 2,562.98. The S&P 500 fell 9.85 points to 1,213.40.
European markets were up on Tuesday in spite of concerns over Ireland’s debt. Asian markets were all down with Hong Kong’s Hang Seng falling 1.02 percent.
Stocks in the news: JPMorgan Chase and Co (NYSE: JPM), The Goldman Sachs Group Incorporated (NYSE: GS), Bank of America Corp (NYSE: BAC).
