Markets

Small caps lead bounce in equities

Stocks reversed early losses Friday, with the beleaguered Russell 200 leading the way higher.

The S&P 500 rose 2.85 points, or 0.15 percent, to 1878.48. At one point it was down 8 points to 1867. It has resistance at that 1889 level and support at 1850.

The Nasdaq 100 climbed 15.28 points, or 0.43 percent, to 3555.70 and managed to claw back above its 20-day moving average. Resistance is at 3600 and support at 3500.

The Russell 2000 was the most noteworthy mover, touching a three-month low of 1091.50 before rallying to end the session at 1107.22. The small-cap index rose 9.79 points from the previous session, or 0.89 percent. It's been the biggest laggard this year, giving rise to worries about a potential correction. It has resistance at 1140 and support at 1080. (See our chart analysis of the from Friday.)

The CBOE Volatility Index retreated back below 13 as shares advanced. The VIX declined 0.51 points, or 4.17 percent, to 12.92. The nine-day CBOE Short-Term Volatility Index (VXST) dropped 1.34 points, or 10.71 percent to 11.17.

The iPath S&P 500 VIX Short-Term Futures Note (VXX) fell 2.17 percent to $38.27 after hitting a new all-time low of $38.23 just before the close.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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