Small businesses are pessimistic and feeling the heat of inflation
US small-business confidence hit its lowest level since December 2012, with 25% of owners citing inflation as the single most important problem in operating their business. Additionally, a net negative 18% of owners expect higher real sales volume, down 8 points from February.
What gives?
In today's rendition of "the stock market is not the economy," the dominance of big tech and Wall Street has covered a lot of the pain on Main Street.
While the big, tech-heavy S&P 500 is flirting with all-time highs, the Russell 2000 Index, which tracks 2,000 US small-cap stocks, is still 14% off its 2021 peak.
In today's rendition of "the stock market is not the economy," the dominance of big tech and Wall Street has covered a lot of the pain on Main Street.
While the big, tech-heavy S&P 500 is flirting with all-time highs, the Russell 2000 Index, which tracks 2,000 US small-cap stocks, is still 14% off its 2021 peak.
