what do folks who responded to john sweeney's survey indicates. they indicated two-thirds of them were going to put money into u.s. stocks. mr. sweeney, let me ask you, do you see what brian sees in your complex there at fidelity, namely that people are still underweight u.s. stocks compared with what they ought to be, and is that behavior changing? is the flow of funds more into equities so far this year or not? >> it is, tyler. we're seeing more flows into equities this year which is a good trend. obviously, we've seen a cycle over the last four years, and that's really rocking the boat. and what we need to do is get people back to the middle. think about a diversifiy eied portfolio, we'll see people continue to buy as the population ages. we need to keep inflation in mind. equities are the only place that is really going to outpace inflation over long periods of time. and people investing in whether it's for accumulation or even income distribution, you need to be thinking about inflation when they think about their allocation to equities. >> br

we'll speak with fidelity head of retirement and investment strategies john sweeney. >> hospital sticker shock. why do hospitals across the country charge vastly different prices for the very same procedure? >> on the front lines. we'll take you inside the computer lab where a cyber war is being waged against sophisticated hackers in order to protect businesses and you. we have all that and more tonight on "nightly business report" for wednesday, may 8th. good evening, everyone. tyler and i overheard some not other day will the stock market ever go down? it sure doesn't look like it. >> it never will. >> it absolutely will. we just don't know exactly when. it does seem like right now like nothing can stop wall street's bulls from pushing this market higher. in today's sessions, gains were modest, but they were enough to send the dow and the s&p 500 once again to fresh all-time closing highs. the dow was up 49 points today and the record there, 15,105 and the s&p was up by six points and helped by encouraging data on housing and on another round of strong, corporate earnings and more on t

john sweeney is executive vice president of planning and advisory services with fidelity investments. john, certainly this is a big threat for all investors, all income earners, how big is it for long-term investors? >> thanks, tom. a lot of our investors are asking us for help, trying to navigate the tacks tax landscape. and people are asking how they might adjust their portfolios. a couple of things to keep in perspective. when you think about constructing your portfolio, you want to be focused on your long-term goals. if retirement several years away, you want to make sure you have enough earnings power to outpace inflation. equities are going to play a large role in anyone's portfolio. for folks in retirement, they're obviously concerned about income in their portfolios. so we've seen a tremendous shift into fixed income over the last several years. but as people lost sight of the ability for equities to outpace the earnings power of fixed income, and we've seen that a trillion dollars has flown into bond funds, but a lot of the investors have missed out since the lows of '09. >>

john sweeney is an executive vice president at mutual fund giant fidelity investments. he joins us from boston. john, it's great to see you again r most of those mutual fund investors taking too much risk with bonds? >> well, tom, the important thing to think about with bonds is that we've had a flight to bonds as a safety mechanism. people have gotten concerned about the volatility in the equity markets and moved their portfolio to bonds. what we ask folks to i have about is how much bond portfolio dow need in your portfolio. has to be a balanced mix and we ask folks to think about the time horizon in which they need to use the money. most people obviously focused on retirement. i think with the demographic shift of people ageing in america we going to continue to see people continue to buy bonds as they put more ballast in their portfolio. i want to caution though and say that at the same time you need to have some significant equity exposure on rising that investors might make as they approach retirement is they need to have some equity exposure to make sure they can

john sweeney from fidelity investments, planning and advisory services is here to offer only insight on that. welcome back. >> thanks for having me, sue. >> let's start with who are you are hearing from. >> so we heard from three different kinds of investors. the nervous investor and bold investors. on monday, people were concerned about the information coming out of shea, concerned about oil and the impact on the federal reserve. people were looking for information. the nervous investors, very few of them, said maybe it's time to take some profits off the table. the vast majority were confident and the people who had plans, retirement plan, plans for college, and understood the roles of asset allocation in the portfolios, they were confident and the very bold, they stepped in and they bought on the dips and they took advantage of the low prices. >> what about those who might not have a plan because markets like this and volatility like this certainly rings home the fact that you don't have a plan and the market basically is controlling what you do. >> well, it's interesting. like a

john sweeney, executive vice president with fidelity investments and planning and advisory services, e to offer some insight. john, welcome back. the article in the "wall street journal" today was interesting because it points out when people retire typically some of the draws on their income disappear. you're not going to be paying social security tax or maybe not as much or medicare tax or maybe not as much. or contributing to a 401(k). but my question is what should i really be looking at? my gross income? my after-tax income to replace? or do i want to look at my expenses? >> expenses are absolutely the place to start, tyler. when we talk to people about planning for retirement we ask them to think about their essential expenses, food, shelter, and health care. and when we construct an income plan for people often it's centered around the starting number that's like 80% of the last dollar you that made before you retired. and when you think about that number you're exactly right. you're no longer contributing to retirement. so if you've been saving 15% you've already been living o