Broader Russell 2000 gains are seen as economic positive

Smaller U.S. companies are sending a positive signal for the economy, according to Chris Verrone, head of technical and macro research at Strategas Research Partners LLC. He cited broadening gains within the Russell 2000 Index in a Twitter post Thursday. More than 40% of the Russell’s component stocks closed at 20-day highs Wednesday as the index set a record, according to data compiled by Bloomberg. The percentage was the largest since January and more than triple the average since 2018.

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