Russell 2000 futures move up
The Russell 2000 (NYSE: IWM) futures are higher and the small-cap index will likely open in positive territory.
There is little in the way of economic or corporate releases today, but investors are stepping up to buy shares after a sharp decline on Friday following news of a worse-than-expected December jobs report.
Helping fuel the bullish mood on pre-market trading today is speculation that the U.S. Federal Reserve will cut interest rates to prevent the economy from slipping into recession. The Fed is scheduled to kick-off a two-day meeting on Jan. 29. At its previous meeting on Dec. 11, it lowered the federal funds rate to 4.25% from 4.50%.
Here are the biggest percentage gainers and losers in pre-market trading among companies with a market cap between $100 million and $750 million:
Biggest percentage gainers:
• Amicus Therapeutics, Inc. (FOLD), up 14% on news of positive results from a clinical trial of a drug candidate.
• Maxwell Technologies, Inc. (MXWL), up 10% on news an automotive electronics maker selected its products.
• Origin Agritech Ltd. (SEED), up 9%.
Biggest percentage losers:
• American Railcar Industries, Inc. (ARII), down 8%.
• TiVo Inc. (TIVO) down 5%.
• ShoreTel Inc. (SHOR) down 4% on news it projects fiscal second-quarter revenue will be below the previously announced range.
About the Author
Reporter Alex Alexandrov is based in SmallCapInvestor.com's Washington, D.C. bureau.
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