CNBC Daily Open: Excitement over earnings give markets a ‘relief rally'

Despite U.S. Treasury yields rising and the Israel-Hamas war becoming increasingly volatile, stocks rallied over third-quarter earnings excitement.

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The Russell 2000 has lagged behind major indexes this year because gains were concentrated in the"Magnificent Seven" mega-cap stocks. But"if the economy is going to re-accelerate, which it is doing, and if profits growth is going to re-accelerate, which it is doing, then small caps should lead the way," added Bernstein."That's what history says."

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