Tuesday’s Market Minute: Russell-Mania

The Russell 2000 futures contract has been the laggard for much of the past year, underperforming the other three major equity indexes. This relative lack of participation among the small-caps, when coupled with macro factors such as the Trade War and slowing global economic data, raised some questions about the legitimacy of the rally. At the same time, the pessimism surrounding the Trade War and global growth seems to be moderating, which seems to have caught bears flat-footed as the market continues to make new highs.