The Dow (-0.2%), Nasdaq (-0.2%), and S&P 500 (-0.2%) registered modest losses on Wednesday while the Russell 2000 (+0.6%) outperformed. The small-cap index climbed steadily throughout the afternoon while the S&P 500 spent the day in an 11-point range near its flat line before settling just below its 100-day moving average (2,042).
Here’s how the markets are faring so far this year.
- Nasdaq Composite +2.4% YTD
- Russell 2000 +0.9% YTD
- S&P 500 -0.9% YTD
- Dow Jones Industrial Average -1.1% YTD
The Russell 2000 did a nice job of holding its 50 day moving average and its rising trend line. Most of these smaller companies don’t have offshore currency exposure (strong dollar), so they are acting better.
See you in the morning.