An index of small-cap stocks just notched its first record-high close since 2018

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Look at some of the stocks on the move and the sectors of the move on Carol Master along with Bloomberg News process that reporter Sarah Pounds Act, both of us in our Bloomberg Interactive Brokers studio. Let me just do big picture. Definitely risk on trade 473 names in the S and P 500 higher today 31 lower to unchanged And if I take a look at those major industry groups in the S and P 500, there are 11 all of them up. For the day energy at the top of the pack of 3.8%, followed by real estate of about 2.3 bottom of the pack information technology, but still up about 9/10 of a percent Sarah Ponds Act, Man, It wasn't the week. Well, maybe it's starting more like the week. It's ending. More like the week it started. See, that's what kind of weak it's been, and there's been a lot of stuff in the middle, right. We have come full circle. Granted, Today's moves were not as drastic or as large as Monday's, but they were reminiscent of them in the middle of the week. We saw that Monday rotation, Fayed was attacked, Take the lead once again. That was not the case today. At the end of the day, we just heard it. Russell 2000 more than 2.3% today at a record high. This is the first record high for the Russell since 2018. We had not seen it. It really is. It's been got. It's getting close, right and just never breaks it right, exactly exactly have been getting close. But we have not been able to see small caps really breakthrough. While today was the day also a record high for the S and P 500 today, as well as the equal weight version of the S and P, So we're seeing breath come into this market. Well, that's what I was going to say. What's the significance about the small caps in the large caps right to see the Three indexes that you just put it point out there all hit records. So the idea is that sure you can see the SNP it records. You can see the NASDAQ hit records, but they're very, very top heavy. So what that means is that it's really representative of just a few stocks, many of them tech thing, names all year long pulling higher seeing Russell 2000 at record seeing the equal weight version of the S and P. It records What this shows you is that it's not just a couple of stocks pulling you hire. Rather, it is many more and you are seeing more participation, which is seen as a healthy climb. What's the fundamentals behind it? You know, it's a great question. So a lot of hope this week on the optimism over the visor vaccine is truly It's unbelievable. When you see these stark comparisons between the Fizer vaccine news, then you see Record covert 19 cases. You see restrictions coming in what the reality is and what investors are saying is that the vaccine news helps you look beyond all of this. That helps you realize that there will be an end. At some point. I hear it all The time. Markets are forward looking mechanism, and that's exactly what they're trying to do what you got visibility right? And even if it's still a few months away, or maybe it's into next year well into next year. At least we have an idea of when this will end versus some of the conversations we had earlier this year when we like We don't know. We just don't know

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