Thanks vipergrl84. This article reiterates what I've been saying. Namely....
Small caps typically outperform when the domestic economy is strong because they generate most of their revenues in the U.S. compared to large multinationals that book sales abroad.
Small caps led in the first half of the year as a higher U.S. dollar ate into profits at large-cap firms.
When companies translate earnings overseas into dollar terms, those profits are worth less when the greenback is elevated.
RBC Capital Markets estimates, based on the dollar's levels from the same time a year ago, that the greenback cut 1.7% off the S&P 500's bottom line in the first half of 2015.
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