The Russell 2000 (IWM) is trading significantly higher in the pre-market session, driven by a broad-based market rally. This optimism stems from carry-over momentum from the previous day's session, which was fueled by reports of easing geopolitical tensions after a pause in Iran strikes. A corresponding sharp drop in oil prices has further boosted investor sentiment. This "risk-on" environment is leading to a rotation into higher-beta assets, with small-cap stocks being primary beneficiaries.