Russell 2000 rises 1.15% at 2,862.93 as small caps outpace tech
Published on 10/29/2026 at 18:51 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSSmall caps lead as tech retreats
- The Russell 2000 stood at 2,862.93, up 1.15% at 12:45 p.m. EDT on October 29.
- Third-quarter GDP growth beat expectations, while September core PCE inflation rose in line with forecasts.
- Technology stocks weakened after disappointing Alphabet results and renewed concerns about artificial-intelligence spending.
The Russell 2000 advanced during Thursday's US session, extending its recovery from the October slump while technology shares weakened. The small-cap benchmark stood at 2,862.93 points, up 32.42 points or 1.15%, at 12:45 p.m. EDT on October 29, equivalent to 6:45 p.m. in Berlin. The figure was reported by Barron's market data while the exchange session was still in progress.
Small caps diverge from technology
The Russell 2000's advance contrasted with losses in the major technology benchmarks. A CNBC market update, updated at 12:24 p.m. EDT, said the index was up about 1% and on course for a third consecutive positive session. It also reported that the benchmark had rebounded roughly 5% from its mid-October low.
The divergence reflected a difficult session for large technology companies rather than a uniform risk-on move. Alphabet fell sharply after reporting weaker-than-expected quarterly results and negative free cash flow, while Microsoft, Amazon and other artificial-intelligence-related shares also came under pressure. Concerns about the scale and payoff of AI capital spending added to the pressure on the technology complex, according to CNBC.
Growth data supports domestic shares
Economic data provided a more supportive backdrop for smaller US companies. The first estimate showed third-quarter real GDP growth at a 3.4% annualized rate, above the 3.2% consensus cited by Investrade. Initial jobless claims declined to 194,000 from 195,000 in the prior week, while September core PCE inflation rose 0.3% month over month and 3.1% year over year.
Headline PCE inflation increased 0.5% from August and 3.6% from a year earlier. The combination of stronger growth, resilient labor-market data and inflation broadly in line with expectations helped keep the focus on domestically oriented companies, although elevated yields remain a consideration for smaller businesses with greater financing sensitivity.
Session remains unfinished
Because the Russell 2000 was still trading at the time of the quoted level, the move should not be read as a closing result. Investors continued to assess the US data, the Federal Reserve's decision to leave its policy rate unchanged at 3.75% to 4.00% on October 28, and another round of large technology earnings due after Thursday's close.
Further Russell 2000 coverage is available on the Russell 2000 topic page.
