Russell 2000 gains momentum

The Russell 2000 (NYSE:IWM) is posting solid gains despite mounting fears of a recession. At 2:01 p.m. ET, the small-cap index had added 4.86 points, or 0.68%, to 718.43. The Dow Jones Industrial Average was up 44.61 points, or 0.35%, to 12,670.64.

Investors are in a bullish mood and the major U.S. indices have shaken their early losses and moved into the green despite news of a weak government jobs report.

The U.S. Labor Department reported before the opening that payrolls fell by 80,000 in March, the third consecutive month of declines. Economists were expecting to see a decline of 63,000.

Small-cap stocks stumbled out of the gate but surprisingly rose into positive territory shortly after 11 a.m. ET.

“Today started as if there wouldn’t be much reaction in the market place,” said Cem Hocaoglu, head of Quantitative Derivative Strategy at financial services firm Susquehanna Financial, in a phone interview. “It’s just . . .

For access to the full article, you must be a registered member - it's FREE.

Already a member? Please log in below