BUSINESS

Wall Street heads higher, led by small-company stocks; Russell index crosses 1,000

05/20/2013 12:02 EDT | Updated 07/20/2013 05:12 EDT
NEW YORK, N.Y. - The stock market is edging higher in midday trading, led by small-company shares.

The Russell 2000 index of small company stocks crossed 1,000 points for the first time Monday. It's up 18 per cent this year, more than other major market indexes.

The rally in small stocks is a sign investors are more willing to take risk. It also means they're more optimistic about the U.S. economy versus Europe, which is still mired in recession.

The Dow Jones industrial average was up 28 points at 15,382, a gain of 0.2 per cent.

The Standard & Poor's 500 was up four points at 1,671, or 0.3 per cent.

The Nasdaq rose nine points to 3,508, or 0.3 per cent.

Actavis rose 3 per cent after the pharmaceutical company said it's buying Warner Chilcott.