It is an interesting session that began with all sectors in the red, but it is slowly improving. The fact is the action is away from the S&P 500 and blue-chip names and on stocks with large short positions and in niche industries like electric vehicles.
Meanwhile, rebalancing in the Russell is sending quite a few stocks higher. Jeffries released a list of names that should see upside and downside pressure.
Like most major equity indices, the Russell 2000 has been ranged bound, but it acts great today.
I’m loving the action in restaurant stocks where we have a couple of laggards. Reopening names and niches are faring well, but so, too, are a lot of those stay as home names.