
The small-cap rally just got real. The Russell 2000, America's small-cap benchmark as tracked by the iShares Russell 2000 ETF (NYSE:IWM), just smashed through old records, hitting 2,470 points on Thursday and topping its November 2024 high.
The move came one day after the Federal Reserve cut interest rates by 25 basis points, and hinted that more cuts could be coming soon—a clear green light for small, interest-rate-sensitive companies.