Tech Stocks Stall, Small Caps Surge As Regional Banks Rally, Airlines Rocket: What's Driving Markets Wednesday?

Quick Summary:

Small-cap stocks outperformed large caps in Wednesday's session, with the Russell 2000 Index surging to test July 2024 highs on the back of expectations for interest rate cuts and a strong rally in regional banks.

Regional banks, as tracked by the SPDR S&P Regional Banking ETF (NYSE:KRE), rallied 2.1%, hitting levels last seen in early March 2023, prior to the fallout of Silicon Valley Bank.

Financial stocks continued their upward momentum, buoyed by strong earnings reports.

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Article Details

Author / Journalist: Piero Cingari

Category: Technology

Markets: United States

Topics: XLU JBHT XLF Equities US4642876555 US1264081035 IBKR Economics US45841N1072 US2547091080 SPY DIA USN070591862 Macro Economic Events US81369Y5069 Regional banks Benzinga ETFs KMI US2944291051 US8581191009 Earnings US73935A1043 Tech Markets DFS KRE US6174464486 US78462F1030 USB Semiconductors JETS US78467X1090 ASML US9100471096 $BTC MS Large Cap Sector ETFs US0028241000 QQQ US78464A6982 Banks ABT EFX US0138171014 US9029733048 US81369Y6059 US49456B1017 Stories That Matter XLC IWM US4456581077 XLE CFG CSX STLD UAL AA US81369Y8865 Small Cap Top Stories Movers

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-16 @ 17:44:41 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 384 words

Reading Time: 3 minutes read

Sentences: 24 lines

Sentence Length: 16 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 23091875

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