Russell futures pulled back slightly but remained near their all-time closing highs, holding above the key 3,000 level. The small-cap index continues to showcase relative strength alongside the Dow Jones Industrial Average, buoyed by a significant capital rotation out of the technology sector. This shift has brought heavy selling pressure to the Nasdaq-100 and modest declines to the S&P 500, while fueling inflows into broader market sectors. In addition to sector rotation, market participants are eyeing the upcoming quarterly Russell reconstitution. This index rebalancing and resetting of components could alter pricing structures across equity index futures markets as the second quarter concludes.