Russell 2000 Hits Record Highs, Silver Rallies To $60: What's Moving Markets Tuesday?

Market Performance - U.S. small caps reached record highs, with the Russell 2000 rising 0.6% to 2,540 as investors shifted towards small caps and rate-sensitive sectors [1][2] - The S&P 500 increased by 0.3% to 6,865, while the Dow Jones and Nasdaq 100 also saw gains of 0.3% and 0.2%, respectively [3][6] Federal Reserve Expectations - There is a 90% chance of a 25-basis-point rate cut at the upcoming Federal Reserve meeting, with Polymarket odds indicating a 95% probability, reflecting strong market conviction for easing [2] Job Market Insights - Job openings in the U.S. rose to 7.67 million in October, surpassing expectations and alleviating concerns about a rapid cooling of the labor market [3] Precious Metals Rally - Silver prices surged nearly 4% to $60.39 per ounce, marking a year-to-date gain of 110%, while gold rose 0.4% to approximately $4,210 per ounce [4] - Precious metal miners outperformed, with the VanEck Gold Miners ETF and Global X Silver Miners ETF increasing by 3.5% and 4.3%, respectively [4] Cryptocurrency Market - Bitcoin climbed over 4% to above $94,000, and Ethereum surged more than 7%, with high-beta tokens like Cardano and Solana also showing significant gains [5] Major Indices Performance - Major U.S. indices showed positive performance, with the Nasdaq 100 at 25,697.06 (+0.3%), S&P 500 at 6,865.00 (+0.3%), and Dow Jones at 47,898.01 (+0.3%) [6] Top Gainers and Losers - In the Russell 1000, Teleflex Incorporated led with a gain of 9.98%, followed by Strategy Inc. at +7.68% [7] - Conversely, SLM Corporation experienced the largest decline at -16.15%, followed by AutoZone at -6.99% [9]