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Thatwould be julie would be one of the many superlatives we have had. The s p 500 earlier touched 2600 and it is nearly at that level. What is curious and interesting is that once again, these gains are coming on no particular catalyst. We have a holiday shortened trading week. We have got this big surge in stocks, technology in particular doing well. This is evidenced by the upsurge in the nasdaq. We also have some earnings reports to chew on. We have got two food related earnings, going in decidedly opposite directions. Hormel foods out with sales that beat analyst estimates, but on the flipside is campbell soup, a decline of more than 7 , the most in a single day in nine years. A cut their annual profit forecast. It is hurt by an ongoing dispute with walmart. Basically, walmart is saying it has been cutting its inventory of campbells. That is taking a toll on the company. I mentioned Technology Shares doing well today. We ha ....
Link and aaron brown with us as well and mike wilson here, Investment Analyst and chief executive officer. The russell 2000 is bucking the trend all the way on the righthand side. Mike, good to see you. Welcome back. Thanks. What do you make of the russell and what it says about where we are in this some rally . Other than torturing people its been a wild ride this year with the russell fortunately a couple weeks ago we doubled down on our smallcap call making the claim that we thought the tax had been priced out of the market which is really probably the most important thing thats driven the russell. I think you really have to go back to november and instead of looking at the yeartodate performance, you have to look at the russell prior to the election and if you look at it that way its performed in line with the s p 500 so we look at the last four months as a consolidation of the initial gains after the election which was ta ....
Right before a big decision, we are seeing a big move. Ramy you would think markets would be at a standstill but we are seeing a good move, markets jumping up from this morning and they havent come down today. Oil is rising and thats the big reason. Here is where we are right now. The s p 500 up and the dow jones up by nearly 1. 2 . And of course all eyes are on the fed and the rate rise so many are expecting. Check it out fed funds futures right now pricing in a 76 probability of a rate hike of at least 25 basis points. That is scheduled for tomorrow and bloomberg will have that coverage. As equities are rising, treasuries are falling and for the second day in a row, the yield is rising and the 10 year is up about five basis points. This is its highest in 11 days. It has been a big day for energy. Ramy it has definitely been a big day for energy. Nymex crude has been pretty positive for the entire day. We saw a couple of downward trends but we are up i about 2. 6 . Of course the comin ....