Wall St Gains As Small-cap Russell 2000 Hits Record

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– Retail and technology stocks led Wall Street higher on Wednesday and the small-cap Russell 2000 hit a record peak, even as a rise in U.S. bond yields to an almost seven-year high suggested more competition for equities and investors fretted over geopolitics.

Smaller companies continued this year’s trend of outperforming their larger rivals with the Russell 2000 reaching a record high. The index ended up 1 percent.

“Small caps present a cleaner play than large caps on two fundamental market drivers: lower corporate taxes and a stronger US economy,” research firm DataTrek wrote in its morning briefing.




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