Russell 2000 Closes 1.01% Higher at 2,859.22
Published on 10/29/2026 at 22:47 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSSmall caps defy broader weakness
- The Russell 2000 closed at 2,859.22 on October 29, up 28.71 points, or 1.01%.
- Small caps advanced as Alphabet's earnings disappointment and AI-spending concerns pressured technology shares.
- The index recorded a fourth consecutive gain and its eighth advance in the past nine sessions.
- Third-quarter growth data beat expectations, while inflation data remained broadly in line with forecasts.
The Russell 2000 closed Thursday, October 29, at 2,859.22 points, rising 28.71 points, or 1.01%, from the previous session. The small-cap benchmark outperformed the broader US market as technology shares came under pressure following a sharp decline in Alphabet.
The closing figures were reported by The Associated Press via Yahoo Finance. They imply a previous close of 2,830.51 points. The Russell 2000's gain extended its winning streak to four sessions and marked its eighth advance in the past nine sessions, according to Schaeffer's Investment Research.
Small caps resist technology selloff
Alphabet's shares suffered their worst decline on record after the company reported weaker summer growth than analysts expected. The results also intensified concerns about whether massive artificial-intelligence investments will generate sufficient returns. The resulting pressure was concentrated in technology: the Nasdaq Composite fell 1.38%, while the S&P 500 declined 0.30% and the Dow Jones Industrial Average lost 0.25%, according to the Associated Press tally.
Reuters coverage published during the session said investors were reassessing big technology companies' AI spending after Alphabet's report. The report also noted that small caps were outperforming while market participants considered whether the weakness in the AI trade was spreading beyond technology. That relative performance provides context for the Russell 2000's advance, but does not by itself establish a single cause for the index move.
Growth data supports risk appetite
Economic releases offered a more constructive backdrop for smaller companies. A market update from eOption said third-quarter GDP grew at a 3.4% annualized rate, above the 3.2% consensus, while weekly jobless claims fell to 194,000. September core PCE inflation rose 0.3% month over month, in line with expectations. The Federal Reserve had held interest rates steady on Wednesday, leaving investors to weigh resilient growth against still-elevated price pressures.
FTSE Russell describes the Russell 2000 as the small-cap segment of its US index family, which is used as a benchmark for the small-cap market. The index's fourth straight gain contrasts with the day's weakness in large technology companies and highlights the market's continuing differentiation between AI-sensitive megacaps and other parts of the equity market. Further coverage is available on the Russell 2000 topic page.
