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The
S&P 500 Index (SPX) and the
Dow Jones Industrial Average ($DJI) start off Tuesday defending six-session winning streaks, the best stretch in six months for either. The small-cap
Russell 2000 (RUT) also hit new all-time highs yesterday. Wall Street is batting a thousand this February, to borrow a baseball term that represents perfection.
The RUT is way ahead of everyone else, up 16% so far this year as investors appear focused on smaller, more domestically-oriented stocks and banks that are well represented in the index and tend to benefit from economic stimulus.
The last time the SPX started off a month as well as this was last August when it had six straight gains before faltering on day seven. Today is the seventh trading session of February, so we’ll see if the index can muster a little more power to surpass August’s mark. The day begins with major indices trending lower, so it might take a new positive catalyst to turn things around.