Small Business Mood Check for 2026, November 25th, 2025

Markets are heading into Thanksgiving with a little more chop, even after a strong year — especially in last year’s standout winners like tech, AI-linked names, and Bitcoin plays. Michael Hartzman and Dominic Tavella explain what’s driving the pullback, why healthcare has quietly led November, and how healthy valuation resets can set the stage for the next leg higher.

Then we’re joined by returning guest, Jeff Oak, Vistage Chair, for a real-time read on small and mid-size business sentiment heading into 2026. Jeff breaks down why CEO confidence has rebounded from the spring tariff shock but remains stuck in neutral, what “profitless prosperity” looks like on Main Street, and why protecting margins matters more than ever. The group also digs into rising AI adoption among smaller companies, holiday-season expectations, employee engagement, and the challenge and opportunity of leading a workforce spanning five generations.





Lebenthal Global Advisors, LLC is a registered investment advisor. Lebenthal Financial Services, Inc is a FINRA registered Broker Dealer. The content of this podcast is intended for informational purposes only and is not intended to be investment advice. The views expressed in this podcast are subject to change based on market and other conditions. Information about the qualifications and business practices of Lebenthal Global Advisors, LLC is available on the SEC’s website at www.adviserinfo.sec.gov._ Information about the qualifications and business practices of Lebenthal Financial Services, Inc and its representatives can be found on FINRA’s BrokerCheck website, https://brokercheck.finra.org/