Dow industrials up 1.3% at 24,683

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Russell 2000 rallies to record high

The Russell 2000 Index of small-capitalization stocks surged 1.5% to reach an all-time high, to beat the Big 3 broader market indexes back to record territory. Small-cap stocks are often insulated from geopolitical turmoil, such as concerns over what upcoming elections in Italy will mean for the eurozone and global markets, that might affect the benchmark indexes, as the bulk of small-cap companies’ revenue exposure tends to be from the U.S. Among the Russell 2000’s biggest gainers were shares of Movado Group Inc. , which rose 16.2% after fiscal first-quarter results, of grocery products distributor SpartanNash Co. ran up 14.7% after reporting earnings, and of digital media company Global Eagle Entertainment Inc. hiked up 14.7%. The biggest decliner was Chico’s FAS Inc.’s stock , which plummeted 20.6% after the women’s apparel retailer missed earnings expectations. The Russell 2000 was above the May 21 record close of 1,637.44 and the previous all-time intraday high of 1,639.89 on May 22. Meanwhile, the Dow Jones Industrial Average was 7.7% below its Jan. 26 record close of 26,616.71, the S&P 500 was 5.5% below its Jan. 26 record close of 2,872.87 and the Nasdaq
Composite was 1.7% below its March 12 record close of 7,588.32.

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