Small caps are conspicuously absent from Wall Street's bull market party.
The S & P 500 confirmed Friday that a new bull market has begun, breaking both its intraday and closing record high from January 2022.
Year to date thus far, the S & P 500 is up more than 1%, while the Dow has climbed 0.5%.
"We think it's when the Fed cuts rates not if; this boosts small more than large," he wrote in a Monday note.
Not everyone on Wall Street is as optimistic that Fed rate cuts will be an outsized catalyst for small caps.
Persons:
Russell, Jason Goepfert, Sundial's Goepfert, Steven DeSanctis, DeSanctis, Barclays's Stefano Pascale, Pascale
Organizations:
Dow Jones, Dow, Nvidia, Meta, Microsoft, Capital, Micro, Wall