NewsMV
The Fed didn't move, and the market moved anyway. Wednesday's Federal Open Market Committee decision left the benchmark rate exactly where it sat — no cut, no hike, no drama from the statement itself.
The real story printed earlier in the morning: core CPI at 2.4%, one tick below the 2.5% consensus estimate that traders had baked in.
That single basis point of relief was enough to reprice the short end of the curve and send small-cap names sprinting toward the close.
IWM — the iShares Russell 2000 ETF and the cleanest proxy for domestic small-cap sentiment — gained 1.8% on the session, outpacing large-cap benchmarks by a visible margin. The move makes mechanical sense.
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