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Russell 2000 Small-Cap Index Makes Another New All-Time High
While the Dow, the S&P and the Nasdaq closed modestly lower yesterday, the Russell 2000 Small-Cap index made another new all-time high.
As I've mentioned before, it's always good to see the 'riskier' small-caps outperforming as it shows an appetite for risk and is a bullish sign for more gains to come.
In other news, Weekly Jobless Claims increased more than expected, gaining 11,000 to 222,000. But the less volatile 4-week average fell by -2,750 to 213,250, which is the lowest (best) level since 1969.
E-Commerce Retail Sales showed a q/q gain of 3.9%, up from their last print of 3.2%.
Leading Indicators increased by 0.4%, in line with expectations, while last month's numbers were upwardly revised to 0.4% as well.
And the Philadelphia Fed Business Outlook Survey jumped up to 34.4 from last month's 23.2 and views for 21.0. Analysts were quick to point out that this was a 45-year high.
As the economy continues to strengthen, the underlying bullishness of the market will continue to grow.
This is what's sending the small-cap Russell Index to new highs, and why the rest of the market should soon follow.
This is history in the making. Be sure you're taking full advantage of it.
Best,
Kevin Matras
Executive Vice President, Zacks Investment Research
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While the Dow, the S&P and the Nasdaq closed modestly lower yesterday, the Russell 2000 Small-Cap index made another new all-time high.
