This part of the stock market is riding high as most companies struggle under trade war tensions, other worries
The small-cap benchmark Russell 2000 index is up 3 percent so far this year and is just 2 percent away from a record. Jefferies believes earnings growth for small-cap companies could be as high as 20 percent for the first quarter, bigger than the 17 percent increase expected for large. Exchange-traded fund investors pulled nearly $20 billion out of two flagship large-cap stock index ETFs for March, according to FactSet data.