02:47 PM EST, 11/12/2024 (MT Newswires) -- The RealClearMarkets's sentiment index, the first consumer measure for November, rose to 53.2 from 46.9 in October, the first reading since August 2021 to indicate more optimism than pessimism.

The increase was attributed to the reelection of former President Donald Trump and reflected gains in all three components and a slight lowering of financial concerns.

The National Federation of Independent Business' monthly sentiment index rose to 93.7 in October from 91.5 in September, with gains in nine of the 10 components, especially expectations for the economy and sales, though both remained below the breakeven point. The uncertainty index rose to its highest level on record.

"With the election over, small business owners will begin to feel less uncertain about future business conditions," said NFIB Chief Economist Bill Dunkelberg. "Although optimism is on the rise on Main Street, small business owners are still facing unprecedented economic adversity. Low sales, unfilled job openings, and ongoing inflationary pressures continue to challenge our Main Streets, but owners remain hopeful as they head toward the holiday season."

Redbook reported that US same-store retail sales were up 4.8% year-over-year in the week ended Nov. 9, slower than a 6% gain in the prior week due to attention being focused on the election. Sales are likely to pick up later in the month as Thanksgiving and holiday sales approach.

The New York Fed's inflation expectations survey for October showed a lowered overall outlook for the one-year, three-year and five-year horizons, but no change in expectations for home prices.