Wall Street’s main indices edged higher, but small-cap stocks proved the highlight as they chalked up their first record intraday high in three years.
The Russell 2000 gained as much as 2.5 per cent during Monday morning trading, to surpass its previous intraday peak from November 2021.
However, the small-cap-focused index ultimately finished 1.5 per cent higher, less than one point shy of its November 8, 2021 peak close.
The S&P 500 and Nasdaq Composite each ended 0.3 per cent higher.
Small caps trading back around record high territory have reflected a broadening out of this year’s market rally beyond big, tech stocks.