The National Federation of Independent Businesses (NFIB) index has been well below its 50-year average of 98 as respondents report challenges with labor, costs, inflation, and government policies. The index has not been this low for as long as it has since the Great Recession. However, in November the index jumped 8 points to 101.7 as business owners responded with robust optimism regarding the new administration. Read in this UPdate our view of the sudden change in small business owners optimism, the future prospect of the stock market, and specifically the future of small cap index.
