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<ul class="summary-list"><li>Small-cap stocks could be headed for big upside amid Trump's second term, Tom Lee says.</li><li>"I think small-caps could, over the next couple of years, outperform by more than 100%," he said. </li></ul>Donald Trump's presidency could drive monster gains in a particular corner of the stock market in the coming years, according to Fundstrat's head of research Tom Lee.Speaking to <a target="_blank" href="https://www.youtube.com/watch?v=-Q1W8TubiDY">CNBC</a> on Friday, the permeable stock forecaster said he foresaw huge upside for <a target="_blank" href="https://markets.businessinsider.com/news/stocks/small-caps-russell-2000-rally-outlook-sp500-selloff-fundstrat-tech-2024-7">small-cap stocks</a> in the coming years. That's thanks to Donald Trump's recent election win, which <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/trump-trade-us-presidential-election-dollar-treasuries-stocks-crypto-djt-2024-11">sent stocks soaring</a> this week as traders anticipated a fresh economic agenda, a <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/bank-stocks-donald-trump-victory-reelection-wall-street-outlook-regulation-2024-11">looser regulatory environment</a>, and lower taxes. Small-cap stocks have done well so far this year, with the <a target="_blank" class="" href="https://markets.businessinsider.com/index/russell_2000">Russell 2000</a> up 18%. Still, the index of small-caps is trading at around 10 times forward median earnings, Lee noted, reflecting a lower valuation than the S&amp;P 500, which is trading at around 17 times forward earnings."I do think there's still a lot of upside," Lee said. "So I think small-caps could, over the next couple of years, outperform by more than 100%," he added.Lee, who previously predicted the small-cap <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/small-caps-russell-2000-rally-outlook-sp500-selloff-fundstrat-tech-2024-7">Russell 2000 index could rally as much as 40%</a> before the end of the year, also said he sees big gains ahead for other assets lumped into the <a target="_blank" class="" href="https://www.businessinsider.com/the-trump-trade-stock-market-bonds-commodities-tariffs-fed-2024-7">Trump Trade,</a> a handful of investments thought to benefit under the president-elect's policies.Bitcoin, which notched a record-high this week, could climb past $100,000 by the end of the year, Lee predicted. The S&amp;P 500, meanwhile, could rally another 5%-10% through year-end, he said, pointing to the size of previous post-election rallies."Part of the reason investors are feeling so optimistic is that President Trump is entering office again, but this time with a lot more knowledge of how to build a cabinet and a team, and so in some ways this end up being more market-friendly," he added.Doubts, though, are swirling around some aspects of Trump's economic agenda, which experts have warned could <a target="_blank" class="" href="https://www.businessinsider.com/trump-tariffs-higher-inflation-fed-interest-rates-taxes-mortgage-rates-2024-11">stoke inflation and keep interest rates</a> higher for longer. Trump's policies were thought to be <a target="_blank" class="" href="https://www.ft.com/content/022bb11b-c340-4059-b9b7-30481a02174c">more inflationary</a> than Harris' by 70% of polled economists, according to a survey conducted by the Financial Times and the University of Chicago.

Trump's presidency could help small-cap stocks soar in the coming years, Fundstrat's Tom Lee says

Morgan Stanley says these 10 small-cap stocks have at least 50% upside

When you try your best and don't succeed When you (don't) get what you want, but not what you need When you feel so tired, but you can't sleep Feeling these lyrics a little too much, since you could not ‘fix you’(self) tickets for <keyword id="20399945" type="General" weightage="20" keywordseo="Coldplay" source="keywords" meta.keywordsubtype="org" meta.entityname="Coldplay" meta.hostid="261" meta.entityid="Coldplay">Coldplay</keyword>'s 2025 concert in Mumbai? You were all set at 12 noon yesterday, ready to quickly snap up tickets that would not break your bank account, but also get you the best view of the stage, all at the same time. You had mentally mapped out how you'd make the most of 4 minutes that were allotted to everyone to buy tickets? But despite all the effort, you never moved ahead in the queue which had lakhs of Indians clamoring for tickets for the India leg of the iconic band’s “Music of the Spheres” world tour. This, after Coldplay announced a third show on 21st January, seeing their “phenomenal demand” in India. Mumbai based banking professional Agastya Shikhar came as close at 5,004 in the BookMyShow queue. One of his friends had inched even closer, at 604. And yet, they could not secure the tickets. As it is, the wound of not being able to secure tickets for <keyword id="20085213" type="General" weightage="20" keywordseo="Diljit-Dosanjh" source="keywords" meta.keywordsubtype="org" meta.entityname="Diljit Dosanjh" meta.hostid="261" meta.entityid="Diljit Dosanjh">Diljit Dosanjh</keyword>’s India leg of Dil-luminati tour was very fresh. And even though Diljit has announced a second show for Delhi-ites, along with adding pit stops in Jaipur and Mumbai, who knows whether you'll be able to lap up the tickets in just microseconds, before they are all sold out, yet again. But here's what you can certainly achieve, instead of lamenting over missing out on these concerts. Yes, they are once in a lifetime experiences, but you can create more for yourselves, all by smartly using the funds you saved from here in the stock market, and multiplying your funds, instead of just spending them away. Assuming you were going to buy two of the most expensive tickets of the lot in both the concerts, i.e. the lounge tickets in Coldplay’s worth Rs 35,000/per person, and fan pit tickets worth Rs 20,000/per person in Diljit’s. Following the US Fed’s rate cut last week, Indian markets are scaling all time highs, a trend which is set to continue for some time to come. As such, large-cap mutual funds are currently in the spotlight. And over a 1-year period, most large-cap mutual funds have delivered an average return of about 40%. So, if you invested Rs 70,000 in a large-cap mutual fund, you'd have amassed close to a lakh rupees (Rs 97,650) or even more by September next year. If you're a bit of a risk-taker, you can also invest in <keyword id="23278136" type="General" weightage="20" keywordseo="small-cap-index-funds" source="keywords">small-cap index funds</keyword>, which have delivered average returns of about 50% in the past 1 year. Your Re 70,000 could easily turn into Rs 1,05,000 in just 365 days, without you having to do anything! But remember to diversify your <keyword id="19895437" type="General" weightage="20" keywordseo="investment" source="keywords">investment</keyword> across small, mid and large caps, and not concentrate your money in a single fund. Mr. Anand K. Rathi, Co-Founder of MIRA Money highlights that two good options for a holding period of about three to six months are liquid funds and ultra-short bond funds. "Liquid funds have an average holding period of 20 to 30 days, making them suitable for short-term investments. They provide immediate liquidity, allowing redemption on the next working day. On the other hand, ultra-short bond funds have a slightly longer duration, matching the three to six-month holding period. They offer returns similar to annual fixed deposits, typically around 6.7 to 6.8%, making them a good option for short-term investments with better liquidity", he continues. See, there's always a risk of market changes adversely impacting your returns, don't let that deter you. Focus on your goal- of giving yourself and your partner a foreign trip to Thailand, Malaysia, Singapore, Uzbekistan, Vietnam and more, or anything that you want, all by smartly deploying the unused funds from here. SEBI-registered RIA Gaurav Goyal also advises investment in arbitrage funds for the time being as well. "Arbitrage Funds are equity-oriented hybrid funds that leverage arbitrage opportunities in the market. These can be a pricing mismatch between two exchanges, different pricing in the spot and futures market, etc. The fund manager of an arbitrage fund buys and sells the shares at the same time and earns the difference between the selling price and the buying price of the share", he says. And who knows, when you're sipping margaritas on the balmy beaches of Sri Lanka next year, you might not feel so bad about missing out on these concerts? Invest these funds as soon as possible, so that you can achieve your other short-term desires like traveling or anything else. Ofcourse, you can have Diljit and Coldplay playing in the background while you do that!

Could not buy concert tickets for Diljit Dosanjh or Coldplay? Here's what you can do with all the unspent funds

<ul class="summary-list"><li>The recent surge in small-cap stocks appears unsustainable, according to Capital Economics' John Higgins.</li><li>Higgins said the fact that large-cap stocks are still near record highs suggests no rotation has taken place.</li></ul>The <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-rally-broadens-small-caps-another-win-for-bulls-2024-7">rapid and historic rally in small-cap stocks</a> over the past week is unsustainable.That's according to Capital Economics' chief market economist John Higgins, who said in a note on Wednesday that the relative outperformance of small-cap stocks compared to large-cap stocks is likely to be short-lived."A recent surge in the Russell 2000 after the US CPI report for June was published last week has prompted claims that we are entering the initial stage of a secular rotation into US small-cap stocks. We are not convinced," Higgins said.First, Higgins said the recent market action shouldn't be thought of as a rotation.A rotation implies that investors are selling large-cap stocks and using those proceeds to buy small-caps. But while large-caps have sat out the rally over the past week, they are still just a few percentage points below all-time highs."We would need to see more evidence of a sell-off in 'big tech' to be convinced that a rotation into small-cap stocks out of their larger counterparts was well and truly underway," Higgins said.Higgins made those comments while acknowledging <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/nvidia-stock-price-tighter-china-trade-restrictions-tsm-asml-nvda-2024-7">the sharp decline in mega-cap tech stocks on Wednesday,</a> sparked by comments from former President Donald Trump and the Biden administration considering restrictions on certain semiconductor companies.Much of the rally in small-cap stocks has been driven by the expectation that the Federal Reserve will soon lower interest rates.But Higgins isn't buying that argument either, noting that large-cap stocks outperformed their small-cap peers when the Fed cut interest rates in the mid-1990s, as well as when they cut interest rates in 2009 and 2019."We anticipate a bubble in the stock market continuing to inflate amid hype around AI, like one did in the second half of the 1990s around the internet. Back then, small-cap stocks generally underperformed their large-cap peers until mid-1999," Higgins said.Finally, Higgins highlighted that the biggest factor driving stock market performance is earnings, and there's no sign yet that small-cap stocks are going to overtake large-cap stocks in terms of earnings growth."It remains to be seen whether big tech firms will fail in general to continue to beat analysts' lofty expectations for their earnings," Higgins said.The first round of second-quarter earnings results for the mega-cap tech companies are set to drop next week with reports from Tesla and Alphabet.While Higgins isn't yet buying into the small-cap stock rally, Fundstrat's Tom Lee is.The strategist <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/small-caps-russell-2000-rally-outlook-sp500-selloff-fundstrat-tech-2024-7">told clients on Tuesday that he still sees a 40% rally occurring</a> in small-cap stocks after they've largely sat out the broader stock market rally this year."We have small caps even more oversold and valuations — whether you look at medium P/E, which is now at 10 times 2025 earnings — even lower," Fundstrat's Tom Lee told <a target="_blank" rel=" nofollow" href="https://www.youtube.com/watch?v=VyHto5WWQ0k">CNBC</a>. "So we think that this move could be something like 10 weeks and as much as 40%. So I think it is just starting."

Why the stock market's rotation into small-caps will be short-lived

The <keyword id="20412710" type="General" weightage="100" keywordseo="ICC-T20-World-Cup" source="keywords">ICC T20 world cup</keyword> has all of us hooked undoubtedly. From low-scoring thrillers to surprise upsets to high-scoring, high-voltage chases that have gone down to the wire, the ongoing world cup has had us on the edge of our seats! Post the high octane, much anticipated <keyword id="63471" type="General" weightage="20" keywordseo="India-vs-Australia" source="Orion">India vs Australia</keyword> clash that took place yesterday, where India silenced the kangaroos, India is set to meet England in the semi-final clash tomorrow. As for the resilient Afghans, who first defeated Australia and then Bangladesh, the next stop is against the Proteas, who have been unbeaten in this tournament so far! But before these epic clashes, take a good, long, hard look at your financial fitness. And if you are unable to win at managing your finances in life, here are some insights you can take from these matches! <cmsannotation type="cmsannotation" annotationid="Never write off the underdog" comment="subhead" text="Never write off the underdog">Never write off the underdog </cmsannotation>Remember how USA, an associate nation and <keyword id="19919646" type="General" weightage="20" keywordseo="cricket" source="keywords">cricket</keyword>ing minnow, managed to thrash Pakistan by first taking their match to a super over, and then beating them by 5 runs? USA stunned cricket fans all over the world, while promptly announcing itself on the global cricket scene! Shortly after, Afghanistan won over Australia, a certified cricketing giant, by 21 runs. As unexpected as it was, it tells us to never completely write off the underdog, in cricket and in markets. Consider this. The BSE smallcap index has jumped up by 61.79% over the past year. In contrast, the BSE largecap index has only risen by 31.78% in this time. While large caps like Australia certainly offer stability, it is in these smallcaps like Afghanistan where immense growth potential lies. Which is why there is immense merit in allocating some portion of your portfolio to <keyword id="425061" type="General" weightage="20" keywordseo="small-cap-stocks" source="Orion">small-cap stocks</keyword>. <cmsannotation type="cmsannotation" annotationid="Have an emergency fund" comment="subhead" text="Have an emergency fund">Have an <keyword id="20747810" type="General" weightage="20" keywordseo="emergency-fund" source="keywords">emergency fund</keyword></cmsannotation> Stunned by both Afghanistan and India, in the end, Australia had to hope that Bangladesh wins over Afghanistan in more than 12.1 overs, so that they could make it through to the Super 8. Similarly, earlier on, Pakistan had to rely on India thrashing USA by a big margin,and then on USA to lose their last league match, so that they could qualify ahead. The lesson? Have an emergency fund handy, so that you don’t have to rely on others to battle any emergencies. Relying simply on friends and family to tide you through financially difficult times can come back to bite you! Experts suggest that your emergency fund should have at least 3-6 months of your essential expenses. <cmsannotation type="cmsannotation" annotationid="Markets don't stay the same" comment="subhead" text="Markets don't stay the same">Markets don't stay the same </cmsannotation>Die-hard cricket fans would know of Indian skipper Rohit Sharma’s struggles against left arm pacers. Before India’s match with Australia, Rohit had been dismissed by 3 of them in this tournament-Shaheen Shah, Saurabh Netravalkar and Fazal Haq Farooqi. So naturally, fans were concerned about how Sharma would battle Mitchell Starc, Australia’s most dangerous left-arm spinner, who was coming off a splendid performance in IPL 2024 as well. But Rohit Sharma’s swashbuckling 92 off 41 runs turned the tables. Infact, Starc’s over against Sharma went for 29 runs, the most expensive Starc had ever bowled in T20Is. So, if you think you can time the market, you’re mistaken. Investing in stock markets is not a matter of timing them, but staying invested over-time. The best time to conquer your demons, and to start investing is right now! <cmsannotation type="cmsannotation" annotationid="Diversify" comment="subhead" text="Diversify">Diversify </cmsannotation>India’s star batter Virat Kohli has been going through a lull, when it comes to runs. Dismissed for ducks against USA and Australia, his highest individual score is 37 off 28 balls against Bangladesh. And yet, India has continued its unbeaten streak throughout the world cup. That's because other players like Rishabh Pant, Hardik Pandya stepped up. The idea is to diversify, and not put all your eggs in one basket. Have more than one asset class in your portfolio apart from equity, like debt, gold and others, so that you are able to hedge your risks. If one asset dips, you have the cushion of others to safeguard you from losses. <cmsannotation type="cmsannotation" annotationid="You don't need a lot to start" comment="subhead" text="You don't need a lot to start">You don't need a lot to start </cmsannotation>This world cup has largely been about Afghanistan’s dream run, and how they managed to qualify for semifinals for the first time ever. This, despite not having a proper home ground, or any cricketing facilities in their country. Afghani players are a prime example of how discipline and consistent effort is all one needs to win. So, stop waiting for when you’ll start earning more to start saving and investing. Begin with that Rs 500 SIP right away, and increase it as you go. Starting off and staying at it is more important than waiting for the right time!

Five financial lessons to take away from the ICC T20 World Cup

<ul class="summary-list"><li>The Russell 2000 could rally 40% amid a shift in Fed policy, Fundstrat's Tom Lee told CNBC.</li><li>The rotation out of large-caps will become evident in August, weighing on the S&amp;P 500, he said.</li></ul>A rally may be brewing in overlooked parts of the stock market.On Monday, the small-cap <a target="_blank" href="https://markets.businessinsider.com/index/russell_2000">Rusell 2000</a> climbed 1.8%, reaching a high not seen in two and a half years. The index has notched gains amid signs of buckling in large-cap peers and a rotation out of the biggest winners of 2024 as markets position for rate cuts. Last Thursday, the tech-heavy NASDAQ shed 2% as the Russell rose 3.6%."We have small caps even more oversold and valuations — whether you look at medium P/E, which is now at 10 times 2025 earnings — even lower," Fundstrat's Tom Lee told <a target="_blank" href="https://www.youtube.com/watch?v=VyHto5WWQ0k">CNBC</a>. "So we think that this move could be something like 10 weeks and as much as 40%. So I think it is just starting."June's consumer price index report gave the Russell 2000 its green light to rally, he said, given how "astonishingly soft" the data was. That month, <a target="_blank" href="https://www.businessinsider.com/inflation-cpi-june-prices-food-energy-fed-interest-rate-cuts-2024-7#:~:text=The%20consumer%20price%20index%20increased,%25%20month%2Dover%2Dmonth.">inflation cooled off more than expected</a>, bolstering expectations that the Federal Reserve would cut interest rates come September.Compared to names backing the S&amp;P 500, stocks in the Russell 2000 tend to be more rate-sensitive. That makes <a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-sp500-vs-russell2000-small-caps-outperform-economy-2023-6">higher interest rates a challenge for the index</a>, but it rally when borrowing costs finally edge down."I think that August is really going to be one where the rotation becomes more evident, and I think it's going to be stronger small-caps and maybe flat, just slightly down for the S&amp;P," Lee said.In fact, when the Russell 2000 last rallied around 30% in the final months of last year, large-caps had similarly sputtered, Lee said. Given how oversold small-caps are today, the rotation could be even more sizable this time around, he added.Currently, concern is looming over the makeup of major indexes, as just a handful of tech mega-caps are responsible for the majority of gains seen this year. The narrow market concentration looks similar to the <a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-extreme-concentration-sp500-record-2022-bear-market-schwab-2024-6">previous bear market</a>, Charles Schwab said recently.But others are also noticing that small-caps are looking more attractive."This switch doesn't appear to be a 'one off' although it's far too early to suggest that we're experiencing a sustainable trend," Trade Nation's senior market analyst David Morrison wrote."Nevertheless, there's certainly a bullish interpretation to the rotation, as any profit-taking in 'overvalued' tech gets funneled into more neglected areas of the US stock market," he added.

Small-caps are breaking out and will rally 40% as the S&P 500 sputters, Fundstrat's Tom Lee says

<ul class="summary-list"><li>The rally in small-cap stocks is set to continue after a bullish signal flashed for the first time since 2009, Fundstrat says.</li><li>The Dallas Manufacturing Survey shows a sharp spread between current and forward expectations.</li></ul>The <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-rally-broadens-small-caps-another-win-for-bulls-2024-7#:~:text=The%20S%26P%20500%20rally%20is,of%20the%20current%20bull%20market.">July rally in small-cap stocks</a> is set to continue after a bullish signal flashed for the first time since 2009, according to Fundstrat's Tom Lee.In a video update to clients on Tuesday, Lee highlighted that the most recent regional Dallas Manufacturing Survey showed that forward expectations are turning positive in a big way."What's notable was that current conditions are negative, but forward expectations jumped to +22, and as you can see, that's the highest spread between forward and current since 2009," Lee explained.<div type="image" title="Small cap stocks" height="919" width="1160" msid="112143943" hostid="261" sizebytes="60422"></div>Such a sharp spread between current and forward expectations in the Dallas manufacturing survey has historically preceded big moves in small-cap stocks."Take a look at what it means for small-cap stocks, because again this is a cyclical survey. That last instance was basically at the very bottom of a huge move in the Russell 2000 in 2009."<div type="image" title="Small cap stocks signal" height="925" width="1171" msid="112143944" hostid="261" sizebytes="40086"></div>"And if you look at the instances where you've had sizable spreads, four of four times that was in front of a pretty big move for small-cap stocks, so I do think that this again is a buy signal confirming why we're in the summer of small-caps," Lee said.A 10% rally is in the cards for small-cap stocks in the month of August, and <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/small-caps-russell-2000-rally-outlook-sp500-selloff-fundstrat-tech-2024-7">an even bigger rally of 40% could unfold by the end of September,</a> Lee has said in recent weeks.Much of Lee's bullishness on small-cap stocks is based on compelling valuations, falling inflation, and the expectation of interest rate cuts later this year.

A bullish signal for small-caps is flashing for the first time since 2009, indicating more upside ahead, Fundstrat says

<ul class="summary-list"><li>Small-caps historically decline before and after the first interest rate cut, Barclays reported.</li><li>This argues against the growing narrative that the easing cycle will boost small-caps, the bank said.</li></ul>Small-caps are getting new love on Wall Street, but not much supports the expectation for the sector to surge, Barclays wrote.In fact, strategists led by Venu Krishna found that the small-cap-tracking <a target="_blank" href="https://markets.businessinsider.com/index/russell_2000">Russell 2000</a> typically declined once rate cuts started."We think this argues against the popular narrative that the start of a rate cutting cycle signals a sustainable uptrend for small caps vs. large caps," the note said.The authors compared the Russell's performance to the <a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a> through 13 easing cycles from 1980 to 2020. Although the note acknowledged a range of outcomes, a broad downtrend was evident in the 150 days before and after the first cut.<div type="image" title="Chart comparing RTY and SPX performance" height="1338" width="2832" msid="111869324" hostid="261" sizebytes="67842"></div>Their finding opposes many prevailing viewpoints on Wall Street, where rising bets of lower interest rates have sent investors piling into the small-cap trade. Last Thursday, the Russell rose 3.6%, even as the tech-heavy NASDAQ shed 2%.Many expect these stocks to benefit from lower borrowing costs, given their high debt exposure. The rotation into small-caps was first sparked by June's surprisingly cool inflation report, which bolstered confidence that the Federal Reserve would slash rates as soon as September.The Russell <a target="_blank" href="https://markets.businessinsider.com/news/stocks/small-caps-russell-2000-rally-outlook-sp500-selloff-fundstrat-tech-2024-7">faces 40% upside</a> by August, given how oversold its assets have been, Fundstat's Tom Lee predicted this week.But Barclays outlined why this might not be the case historically. In part, falling interest rates might help ease debt burdens, but they can also signal a cooling economy — which favors large-cap exposure."Small caps also continue to face numerous other headwinds, including forward EPS revisions that lag those of their large-cap peers, higher volatility (which is out of favor when the yield curve is exiting inversion and in election years), and heightened vulnerability to trade tensions despite a more domestic sales focus," Barclays wrote.Skeptics agree. Market veteran Ed Yardeni wrote this week that the small-caps trade has no legs, given the sector's lackluster forward earnings, revenue, and profit margins.Meanwhile, others acknowledged the rally but <a target="_blank" href="https://markets.businessinsider.com/news/stocks/small-cap-rally-rotation-stock-market-short-lived-large-caps-2024-7">questioned its staying power</a>."As the Fed embarks on a rate cutting cycle, markets tend to cheer it initially and even for a short period after the cuts begin. But if that cutting cycle occurs in concert with slowing economic data, disappointing earnings, or a quick compression in multiples, small-caps would likely lose steam quickly," SoFi's head of investment strategy Liz Young Thomas said in written commentary.She added: "Not to mention, the Fed typically cuts rates late in the economic cycle, not early in the cycle when small-caps tend to have their moment in the spotlight."

Don't bet on the stock-market rotation as small-caps historically suffer when rates come down, Barclays says

<ul class="summary-list"><li>Tech stocks tumbled Thursday, weighing on the broader market after the June CPI report. </li><li>Inflation was cooler than expected last month, clocking in at 3% year-over-year. </li></ul>US stocks slid on Thursday, weighed down by tech names like Nvidia and Microsoft as the Nasdaq tumbled 2%.The S&amp;P 500 closed below 5,600 after ending Wednesday's session above that threshold for the first time.Meanwhile, the small-cap-focused Russell 2000 jumped 3.6% during the session. Smaller companies, which are often more highly leveraged and therefore more sensitive to interest rates, have struggled as the Federal Reserve has kept them higher to battle inflation.With cooler June CPI opening the door for potentially steeper rate cuts this year, investors are betting that laggards among small-caps could be the next to rally. The Russell 2000 is up about 5% in 2024, compared to 18% for the S&amp;P 500."[Rate cuts] support our expectation for the stock market rally to continue and broaden out from the Magnificent-7," market veteran Ed Yardeni said in a note. "[Small and mid-cap stocks] have been weighed down by high interest rates and have remained relatively cheap when the Fed was tightening monetary policy."Here's where US indexes stood at the 4:00 p.m. closing bell on Wednesday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,584.54, down 0.9%</li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 39,753.75, up 0.1% (32 points)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 18,283.41, down 2%</li></ul>Inflation clocked in at 3% last month, cooler than expected and marking the second month of encouraging data after a tough first quarter.Commentators were quick to call a September rate cut as all but assured, and the odds of a cut at this month's policy meeting crept up slightly as well."A September rate cut should be a done deal at this point. In the second quarter, the run-rate for headline inflation in the US was only 1.1%, with core inflation at 2.1%, making it increasingly evident that the first quarter upside surprises were anomalous," Lazard Chief Market Strategist Ron Temple said."Given the increasing evidence of slowing economic growth, it's time for the Fed to refocus on the dual mandate and ease monetary policy."Here's what else happened today:<ul><li><a target="_blank" href="https://markets.businessinsider.com/news/stocks/ai-bubble-pop-signal-stock-market-investing-outlook-goldman-sachs-2024-7">Goldman Sachs says to watch for this signal</a> to know when AI's stock market dominance will fade.</li><li><a target="_blank" href="https://markets.businessinsider.com/news/stocks/apple-stock-price-outlook-ai-iphone16-release-upgrade-cycle-bofa-2024-7">Wall Street is growing bullish on Apple stock again</a> — and it's all because of the iPhone 16.</li><li><a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-split-boom-hits-microstrategy-chipotle-broadcom-nvidia-whos-next-2024-7">Stock splits can be like rocket fuel for share prices</a>. Here's who could be next after Microstrategy's latest 10-for-1 move.</li></ul>In commodities, bonds, and crypto:<ul><li>Oil futures rose. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets">West Texas Intermediate</a> crude was up 1% to $82.98 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets">Brent crude</a>, the international benchmark, increased 0.7% to $85.71 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price?utm_medium=ingest&amp;utm_source=markets">Gold</a> rose 1.8% to $2,422 per ounce.</li><li>The 10-year Treasury yield dropped seven basis points to 4.205%.</li><li><a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd?utm_medium=ingest&amp;utm_source=markets">Bitcoin</a> was about flat at $57,515.</li></ul>

Stock market today: Tech drags indexes lower, small-caps soar after inflation data boosts rate-cut bets          

New Delhi, Asset management companies launched 212 <keyword id="20372350" type="General" weightage="20" keywordseo="new-fund-offerings" source="keywords">new fund offerings</keyword> mobilising Rs 63,854 crore in 2023, marginally higher from previous year, on the back of significant uptrends in broader markets. In comparison, Asset Management Companies (AMCs) garnered Rs 62,187 crore through 228 New Fund Offerings (NFOs) in 2022. Further, they collected Rs 99,704 crore in 2021 and Rs 53,703 crore in 2020, according to data compiled by <keyword id="20372349" type="General" weightage="20" keywordseo="morningstar-india" source="keywords">Morningstar India</keyword>. "The trend towards the financialisation of assets in India is unmistakable. Aligned with changing consumption behaviours and a need for a higher standard of living, investors recognise the importance of long-term investing. The COVID-19 pandemic underscored the necessity for financial planning and the creation of liquid assets to address emergencies and pave the way for wealth-building," FYERS Research said in its report. It further said that "despite indices exhibiting strength, propelled by robust economic activity, steady <keyword id="19951327" type="General" weightage="20" keywordseo="gst" source="keywords">GST</keyword> collections, and confidence in government reforms and policies, anticipating a similar outperformance in 2024 may not be prudent. Valuations across various market capitalisations look elevated, advocating a cautious approach to direct equities in the short term". As per the FYERS report, the January-March period of 2023 saw the highest number of NFOs at 57. However, the peak fund mobilisation occurred in the July-September period, totalling Rs 22,049 crore. Additionally, 29 thematic or sectoral funds raised an aggregate of Rs 17,946 crore in 2023. With an increased risk appetite for equities and awareness of products and offerings, retail investors opted for higher-risk products like thematic and sectoral funds compared to other products. Usually, NFOs come during a surging market when investor sentiments are high and optimistic. The NFOs were floated to capitalise on the mood of investors and attract their investment as they were willing to invest at that time. Industry experts said that the stock market performance along with the positive investor sentiments led to higher fund mobilisation through NFOs in 2023. In the year 2023, Nifty 50 index delivered a return of 20 per cent, majorly supported by earnings growth. <keyword id="19994732" type="General" weightage="20" keywordseo="nifty-midcap" source="keywords">Nifty Midcap</keyword> and <keyword id="20118967" type="General" weightage="20" keywordseo="nifty-smallcap" source="keywords">Nifty Smallcap</keyword> indices recorded impressive returns of 47 per cent and 56 per cent, respectively. Domestic Institutional Investors (DIIs) infused a substantial Rs 1.7 lakh crore into the market and the infusion played a pivotal role in propelling Indian equities beyond the USD 4 trillion market capitalization milestone. Overall, the mutual fund industry saw a net inflow of Rs 2.74 lakh crore in 2023 as compared to an inflow of over Rs 71,000 crore in the preceding year. The huge inflow could be on the back of sustained investors' interest in equity funds, arbitrage funds, and index funds &amp; ETFs. Debt schemes experienced a net outflow of Rs 46,100 crore last year, while equity schemes saw substantial inflows of Rs 1.62 lakh crore, closely followed by hybrid category schemes at Rs 93,208 crore.

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