Russell 2000 hits intraday record as sector most likely to benefit from Trump’s tax plan climbs
BUZ INVESTORS Russell 2000 hits intraday record The Russell 2000 hit a record in intraday trade on Wednesday as the market eagerly awaited a plan to overhaul corporate taxes set to be revealed by officials of President Donald Trump at 1:30 p.m. Eastern. The Russell 2000 , which tracks small-capitalization stocks, hit a high in intraday trade of 1,424.06, above its closing record of 1,413.64 set March 1, according to FactSet data. Another popular way to invest in the smallest companies in the S&P 500, the S&P Small Cap 600 touched a record of its own,
Russell 2000 hits intraday record
as did the iShares Russell 2000 ETF , which tracks the Russell 2000 closely. The small-cap sector has enjoyed a healthy run ahead of Trump’s tax announcement, largely because the president’s proposal calls for cutting the tax rate on owner-operated businesses to 15%. However, there are expected to be challenges to the administration’s new tax plan because it is likely to add to the U.S. deficit. Meanwhile, the Dow Jones Industrial Average is gaining 0.3% at 21,056, the S&P 500 index has gained 0.3% at 2,396–a few points from an intraday record–and the Nasdaq Composite Index was trading above Tuesday’s closing record, after it finished above 6,000 for the first time ever.