Tag - TICC

The Russell 2000 (NYSE: IWM) was the only major U.S. index to gain today as investors digested economic news. The small-cap index added 2.48 points, or 0.36%, to 699.91. The Dow Jones Industrial Average (INDU) fell 34.95 points, or 0.28%, to 12,466.16.

On a year-to-date basis, the Russell 2000 is down 8.63%, while the Dow has retreated 6.02% and the S&P 500 has trimmed 6.48%.

Small-cap stocks made sharp moves in both directions but spent the second half of trading in positive territory and managed to close with a small gain despite a late-session sell-off.

The day began with news of a report from the U.S. Labor Department that consumer prices rose 0.3% in December. That’s above economists’ projected increase of 0.2% but below November’s 0.8% jump.

That means that total inflation in 2007 inflation was 4.1%, the highest rate since 1990.

However, December core inflation, which excludes food and energy, was 0.2%, following an increase of 0.3% in November.

Core inflation for all of 2007 was 2.4%, which is slightly above the U.S. Federal Reserve’s preferred range between 1% and 2%.