Friday was one of the highest volume days of the year on the small-cap Russell 2000, which rose 10 points to 1,414.78. The Dow fell slightly to 21,394.76 on the session, while the S&P 500 tacked on 3.8 points to close at 2,438.3. The Nasdaq outperformed, rising 28 points to 6,265.
TheStreet's markets contributor (and long-time floor trader) Stephen Guilfoyle explained the flurry of activity on the Russell re-balancing effect.
"An estimated $3.8 trillion in assets track the Russell indices; 43 names will head from the Russell 1000 into the 2000; 31 companies will go the other way. Just within the 2000, there will be 186 additions and 107 deletions. There will also be 10 additions to the 1000. Between $1.5 billion and $1.8 billion are expected to flow into both the energy and tech sectors, while financials should see outflows of more than $2.6 billion."
All things considered, not too shabby that the market didn't fall out of bed.
What's Hot On TheStreet:
Well OK then, Jeff Immelt: General Electric's (GE) - Get Report outgoing CEO Jeff Immelt had some choice things to say at an event in NYC on Thursday night, TheStreet's Kinsey Grant reports. First, Immelt revealed a possibly fatal management mistake Kroger's (KR) - Get Report CEO might have made about Amazon (AMZN) - Get Report who as we all know, just inked a $13.7 billion deal for organic grocer Whole Foods (WFM) . Immelt then took a jab at Hillary Clinton and Barack Obama for not visiting factories in their push to lift manufacturing wages. Talk about a well-paid boss going down swinging.
Why Sears Canada is dying: Sears Canada (SRSC) has one foot in the grave just like its ailing U.S. friend Sears Holdings Corp. (SHLD) . Unfortunately for Sears Canada, it's that friend across the boarder that has played a large role in its demise, TheStreet's Michelle Lodge reports. Sears has sucked badly needed cash away from Sears Canada through the years, leaving it unable to upgrade stores and do other things to compete effectively in the always challenging Canadian retail market.
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