Data: Alignable; Chart: Axios Visuals

Small business owners and employees have been less sanguine about a delay in fiscal spending than stock traders.

Driving the news: A new survey from Alignable finds that many small businesses are growing more worried about "a severe cash crunch," with 42% saying they could collapse by the end of the fourth quarter.

  • Small business owners' top concern was that they would completely run out of financial reserves. 
  • 45% of all small businesses have earned 50% or less of their pre-pandemic revenue — eight months into the pandemic.
  • When asked what would help them the most right now, 35% said reducing the COVID-19 case levels to increase consumer confidence.

Heads up: Goldman Sachs economists estimate that winter weather will reduce total restaurant spending by 3%–4% and consumption by 0.2 percentage points.

  • This translates to a 0.3 percentage point hit to real GDP growth in Q4 and a 0.1 percentage point hit in Q1 next year, followed by a rebound as temperatures rise.

Go deeper

Dion Rabouin, author of Markets
Oct 21, 2020 - Economy & Business

CEO confidence skyrockets on expectations of layoffs and wage cuts

U.S. consumers remain uncertain about the economic environment but CEOs are feeling incredibly confident, the latest survey from the Conference Board shows.

Why it matters: Confidence among chief executives jumped 19 points from its last reading in July, rising above the 50-point threshold that reflects more positive than negative responses for the first time since 2018.

Kendall Baker, author of Sports
53 mins ago - Sports

Locker Room wants to reinvent how fans talk sports

Courtesy: Betty Labs

Locker Room, a social audio app where fans can talk sports and spontaneously join live conversations, launches Tuesday on the App Store.

The state of play: The company behind Locker Room, Betty Labs, has raised $9.3 million in seed funding led by Google Ventures with participation from Lightspeed Venture Partners, Axios has learned.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Politics: Axios-Ipsos poll: Federal response has only gotten worse. The swing states where the pandemic is raging.
  2. Health: The coronavirus is starting to crush some hospitals. 13 states set single-day case records last week.
  3. Business: Where stimulus is needed most.
  4. Education: The dangerous instability of school re-openings.
  5. States: Nearly two dozen Minnesota COVID cases traced to 3 Trump campaign events
  6. World: Unrest in Italy as restrictions grow across Europe.
  7. Media: Fox News president and several hosts advised to quarantine.

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