The Russell 2000 hit a record high as traders bet on interest rate cuts by the Federal Reserve. The index gained 0.7% and closed at an all-time high for the 7th time this year, increasing over 1% in the past four days.

In contrast, the Dow Jones Industrial Average dropped 0.1%, while the S&P 500 rose 0.1% and the Nasdaq Composite gained 0.2% on Thursday.

Read more at Barron’s: Small-Caps Hit New High as the Dow Sits This One Out