US: IBD/TIPP Economic Optimism Index declines to 53.6 in August

• US IBT/TIPP Economic Optimism Index edged lower in August.
• S&P 500 and Nasdaq Composite trade in the negative territory.

The headline Economic Optimism Index of Investor's Business Daily (IBD) TIPP poll declined to its lowest level since February at 53.6 in August from 54.3 in July. 

"The return of Covid and rising financial stress, as stimulus fades and inflation percolates, is weighing on US economic optimism," the publication read. "The IBD/TIPP Financial Related Stress Index rose to 63.2, up from 61.9 in July. Readings above 50 indicate rising stress."

Market reaction

This report seems to be weighing modestly on market sentiment. As of writing, the S&P 500 Index was down 0.05% on the day at 4,384 and the Nasdaq Composite was losing 0.3% at 14,920.