Move over tiny houses, Wall Street investors are now tuning into tiny stocks.
Indeed, the small-is-better trend has made its way to Wall Street. Small stocks are putting up bigger gains than their large-company counterparts.
In the clearest sign of the shift in investors' affections, the small-company Russell 2000 is the first major U.S. stock index to break out to a record high following the stock market's first 10% correction in two years in February. On Thursday, the small-fry index gained 0.55%, while the Dow, S&P 500 and Nasdaq all finished with losses.
The average market value of stocks in the Russell 2000 is $2.5 billion, according to index provider FTSE Russell. Compare that to Apple, the most valuable stock in the large-company S&P 500 index that is closing in on a market value of $1 trillion.
Top holdings in the small-cap index include biotech drug maker Nektar Therapeutics and online food delivery service GrubHub.
Alec Young, managing director of global markets research at FTSE Russell, cites a few factors driving the better performance of small stocks. One benefit is small companies get the bulk of their revenue from within the U.S.
That shields them from headwinds faced by big companies in the S&P 500, which get nearly half of sales from overseas.
Small stocks are less impacted by a stronger dollar, which makes U.S. goods sold abroad more expensive. They also suffer less turbulence due to geopolitical and trade fears.
A federal judge in California ruled Thursday that a twin son of a gay married couple has been an American citizen since birth, handing a defeat to the U.S. government, which had only granted the status to his brother.
Alaska Airlines this week launched daily nonstop service between El Paso and San Diego International Airport.
San Diego Mayor Kevin Faulconer and representatives from the U.S. Marine Corps signed a memorandum of understanding Thursday to work together on overlapping issues.
The San Diego area's notably wet and frigid winter continued unabated Thursday as the latest in a lengthy series of blustery storms soaked and frosted the region with rain and mountain snow for a second straight day.
A very special little girl reunited Thursday with the people who helped save her life. Two-year-old Emma was rushed to Rady Children’s Hospital last spring when she was having problems with her heart. The people who took her there were members of a team called Children’s Hospital Emergency Transport (also known as CHET).
Matt Chewiwie teaches stage tech at Mission Vista High School in Oceanside. His students affectionately call him Mr. Chewi.
San Diego Gas and Electric announced plans Thursday to move its roughly 750,000 customers to energy plans that incentivize decreased energy use, especially during peak hours.
The latest storm system to hit Southern California brought fresh snow to San Diego mountains Thursday.
Here are some interesting questions you probably aren’t often asked: How hopeful are you? How much hope do you have in your life and in your future?