An index of small capitalization stocks rose on Tuesday, extending a recent spate of outperformance that has brought the index within striking distance of record levels. The Russell 2000
rose 0.4%, easily the strongest performer of the day. The Dow Jones Industrial Average
fell 0.1%, as did the Nasdaq Composite Index
while the S&P 500
was down 0.2%. The Russell has outperformed the other major equity indexes of late, rising 8.3% over the past three months, more than twice the 3.4% rise of the S&P over the same period, and four times the 2% gain of the Dow. That gain has brought it within 2% of record levels. The Dow and the S&P, which have been stuck in their longest stretch in correction territory since 2008, are both more than 7% below their own records. The Russell is seen as having held up better because its components typically generate a higher percentage of their revenue from the U.S., and as such, it is less vulnerable to issues surrounding trade or other political tensions.
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