Russell 2000 stays positive

The Russell 2000 (NYSE: IWM) is in positive territory on news of a fourth-quarter profit rise at Wal-Mart. At 2:50 p.m. ET, the small-cap index had advanced 1.31 points, or 0.19%, to 702.83. The Dow Jones Industrial Average (INDU) was up 30.04 points, or 0.24%, to 12,378.25.

Wall Street is in a bullish mood following news that Wal-Mart Stores, Inc. (NYSE: WMT) posted a 4% rise in net income for the fourth quarter ended Dec. 31, 2007.

The result was in line with analysts’ expectations and was largely attributed to strong overseas sales. However, the Bentonville, Ark.-based company warned that it could miss analysts’ expectations during the current quarter and forecasted U.S. same-store sales to be flat or rise no more than 2%.

Small-cap companies in the energy sector are among those posting the strongest gains.

Shares of Evergreen Energy Inc. (NYSE: EEE), Headwaters Inc. (NYSE: HW) and Richmond, Va.-based James River Coal Co. (Nasdaq: JRCC) are among those rising.

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