Russell 2000 opens in the green
The Russell 2000 (NYSE:IWM) is in positive territory on bullish economic news.
At 10:17 a.m. ET, the small-cap index had added 0.91 points, or 0.13%, to 686.98. The Dow Jones Industrial Average was up 24.42 points, or 0.20%, to 12,326.48.
Stocks small and large opened with gains as investors reacted to news before the opening that producer prices rose 1.1% in March, according to the U.S. Department of Labor. Economists were expecting producer prices, the selling prices received by domestic producers for their output, to climb 0.6% following a rise of 0.3% in February.
The numbers also show a jump in energy and food costs, indicating that inflation pressures remain.
Elsewhere, the New York Federal Reserve announced before the start of trading that its manufacturing survey showed an increase in April, defying expectations of a decline. Within the report, the general business conditions index rose, as did new orders and shipments.
Gold and silver companies are currently the best-performing industry group. Among the winners is small-cap Rubicon Minerals Corp. (AMEX:RBY). Similarly, shares of gold producer Aurizon Mines Ltd. (AMEX:AZK) are also higher.
