Home improvement retailer Home Depot Inc (NYSE:HD) is scheduled to hold its investor and analyst day on Tuesday amid a continued tough housing market, as consumers pull back their do-it-yourself project spending. The National Federation of Independent Business (NFIB) said on Tuesday its Small Business Optimism Index dropped 1.1 points to 89.0 last month, the lowest level since January 2013. Core prices, which strip out volatile food and energy, are expected to rise 5.3% for the year and 0.4% for the month. Analysts expect prices for May to rise 4.1% over the year and 0.2% for the month. It is a coincident indicator of the national economy, though it also offers direction for the small business sector’s immediate prospects. Analysts are expecting a reading of 88.5 versus 89 in the prior reading. The Small Business Optimism Index is a composite of ten SBET indicators that provides a monthly, summary data point for the state of the small business economy. The NFIB Small Business Optimism reading for May is due out at 6:00 ET (10:00 GMT). Here are three things that could affect markets tomorrow: Also expected on Wednesday, a new set of the Fed policymakers' outlooks on inflation, economic growth, unemployment and other data for the next few months.
Stocks could get a further catalyst if inflation data comes in as or better than expected and the Fed does pause.
The exact legal definition of a small business can vary from place-to-place and is often dependent on the industry of the business. With earnings season largely in the rearview mirror, investors are optimistic that a Fed pause could boost big tech and other stocks, lifting the S&P 500 out of a bear market in the past few days. Share on Flipboard Share on LinkedIn Share on Pinterest Share on BizSugar Email this Article Small businesses are facing heightened challenges due to labor quality and inflation, according to the NFIB’s Small Business Optimism Index. What Is a Small Business Definition and Guide, or sole proprietorship that has a lower number of employees (and typically lower revenue) than larger businesses.
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