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The small-cap Russell 2000 index ($IWM) saw a notable rise, outperforming other indices with a 1.5% increase on September 27, 2024. This performance was part of a broader market trend where most sectors, except technology, experienced gains. Energy and utilities sectors also performed well, with utilities being the top-performing sector year-to-date, up 5.46% in September and beating semiconductors' 27.76% gain. In contrast, the technology sector faced declines, with the Nasdaq 100 ETF ($QQQ) slightly in the red. The strong performance of small caps and various sectors indicates a shift in market dynamics, favoring interest rate-sensitive groups like utilities and real estate.
Energy jumped today alongside oil prices as Tech sold off most; Utilities now in lead YTD (but only slightly outpacing Comm Serv) … small caps fell more than large caps and Russell 2000 continues to trail S&P 500 by more than 10% YTD https://t.co/uwgwsnam2E
Today's worst performing sector: Tech $XLK: -2.4% Today's best performing sector: Energy $XLE: +2.3% Utilities $XLU also up 0.8%.
Nice look at the sectors of the market that led the Q3 rally, clearing broad based as breadth showed a big improvement during the quarter but led by interest rate sensitive groups like Utilities, REITs and solid double digit gains in Industrials, Financials, Discretionary, while… https://t.co/oYaraWWi3Y
