- The US IBT / TIPP Economic Optimism Index declined in August.
- S&P 500 and Nasdaq Composite are trading in negative territory.
The Investor’s Business Daily (IBD) Economic Optimism Index TIPP survey it fell to its lowest level since February to 53.6 in August from 54.3 in July.
“The return of Covid and increased financial stress, as stimulus wears off and inflation seeps in, is weighing on US economic optimism.” “The IBD / TIPP finance-related stress index rose to 63.2, down from 61.9 in July. Readings above 50 indicate increased stress.”
Market reaction
This report appears to weigh moderately on market sentiment. At time of writing, the S&P 500 Index is down 0.05% on the day to 4,384 and the Nasdaq Composite is losing 0.3% to 14,920.
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