US
S&P 500 has been moving sideways despite rising geopolitical noise – from Greenland rhetoric to unrest in Iran with potential US involvement.
Markets are still prioritizing earnings season over headlines, with the index up ~1.2% YTD and trading at ~6,940 – close to its 52-week high.
NFIB Small Business Optimism ticked up to 99.5 in December (vs 99 in November).
Why it matters : small businesses drive US employment. Higher optimism points to steadier hiring, capex, and wages – supporting household income and local demand.