Small Stocks Hang On to Big Gains, for Now

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Soaring profits at smaller publicly traded companies are driving the Russell 2000 to new records as investors bet U.S. economic strength will boost smaller companies while trade frictions hit their multinational counterparts.

The sweeping tax cut passed last year has driven corporate profits up across the country, especially at small businesses that get most of their sales from within the U.S. A resurgence in economic growth and consumer spending has brightened prospects for the stock market’s smaller cohorts, analysts say,…

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