Despite U.S. Treasury yields rising and the Israel-Hamas war becoming increasingly volatile, stocks rallied over third-quarter earnings excitement.
This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribeTuesday as South Korean indexes led gains in the region. Meanwhile, New Zealand reported two-year low inflation readings: Consumer prices in the third quarter rose 5.6% year on year, less than the second quarter's 6% increase.
The Russell 2000 has lagged behind major indexes this year because gains were concentrated in the "Magnificent Seven" mega-cap stocks. But "if the economy is going to re-accelerate, which it is doing, and if profits growth is going to re-accelerate, which it is doing, then small caps should lead the way," added Bernstein. "That's what history says."Get the CNBC Daily Open report in your inbox every morning and keep up to date with the markets wherever you are.
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