PHILADELPHIA—Nationally syndicated host and biblical investing authority Dan Celia discussed the state of the market, as well as how inflation affects business owners.
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Celia stated, “We started off a week in a little better territory than we ended last week. On Monday, we saw the S&P and then Dow both in negative territory, but the NASDAQ came back really well and it was up slightly. It was negative most of the day, and it’s coming off six days of negative activity. So that is very good news. The biggest loser of the day would be the Dow followed by small cap stocks and the Russell 2000. Earlier on Tuesday morning, we got NFIB numbers.”
How Inflation Affects Business Owners
Celia continued, “20% of small business owners reported that inflation was the single most important problem that they have encountered in operating their business. Price raising activity has reached levels that they haven’t seen since the early eighties. That is not good news because it’s not likely to slow down anytime soon. Business owners expect a little bit of a better business environment over the next six months, but I find that hard to believe. Nonetheless, they are closer to this situation than I am, and I don’t know what the basis of that would be, but most indicators have declined. 49% of owners indicated that they are increasing job openings and another 35% have indicated that they are increasing wages. We’ll watch the week closely as we have a fair amount of economic data coming in.”
