The New York Stock Exchange is shown on Jul 10, 2024, in New York. World shares have forged ahead on Thursday, July 11, 2024, after another record-setting rally on Wall Street. NEW YORK: A famous aphorism holds that a"rising tide lifts all boats," but small capitalisation equities are still waiting for a boost from the 2024 bull market on Wall Street.
Smaller equities"tend to get hurt more by the higher rates", said Sam Burns, chief strategist at Mill Street Research.But that dynamic also means that small-cap equities could be poised to prosper if the Federal Reserve pulls the trigger and cuts interest rates soon. "It's more about what the economy is doing," said Kim Forrest, chief investment officer at Bokeh Capital Partners, who describes conditions as"soft."
But the stocks"did not tend to skyrocket shortly thereafter because of concern of an economic slowdown," he said. Forrest agrees, saying of"unloved" stocks in her portfolio, that"fundamentally, there's nothing wrong with them, other than they're not Nvidia."