2024 bull market leaves out US small caps, so far
While the S&P 500 has piled on more than 17 percent so far this year, the small-cap Russell 2000 has risen a scant 0.4 percent
A famous aphorism holds that a "rising tide lifts all boats," but small capitalization equities are still waiting for a boost from the 2024 bull market on Wall Street.
While the S&P 500, which is comprised of larger companies, has piled on more than 17 percent so far this year, the small-cap Russell 2000 has risen a scant 0.4 percent.
Market watchers point to lofty US interest rates -- at 22-year highs -- as one factor behind the yawning gulf in fortunes, given that smaller companies typically borrow more than larger peers because they are less profitable.
Smaller equities "tend to get hurt more by the higher rates," said Sam Burns, chief strate...