stock exchange the dow jones is having a reshuffle alcoa bank of america and hewlett packard to be removed from the down arm replaced by goldman sachs these are a nike the decision is based on struggling stock prices and the desire to diversify the mix of companies represented alright let's now take aim with mr thomas saw in house investor and see what you've been up to this week i was away last week isn't peter's back i'm back now i want to know what you've been out well first of all when you left the weather got really cold and rainy you came back and it has been. but warmer so thanks for coming back to moscow for us china is increasing its crude output which negatively affects oil here in russia or at least that's what i would say however china is increasing their overall production which means it's good for the stock market so oil probably going to remain volatile for a while but i'm going to stay in and just kind of ride this one out because sometimes you just got to gamble right i'm thinking i'm going to go for a rough spots which is russia's agriculture company they're up one percen

alcoa, bank of america and hewlett-packard are out. the changes to take place after the market closes on september 20th. the index posting three straight days of triple digit gains mostly on relief about syria. the streak ended on thursday. the markets rebounded on friday. apple introduced two new iphones this week. the $99 5c. apple showed off a finger print reader so you won't have to remember that pesky pass code for your phone. the announcement dispientsed investors. the stock fell about 5% on the news. another basic tech company going private and michael dell is the winn winner. his battle to take dell private in a $25 billion deal. dell and silver lake was in the fight for this company. i spoke to michael dell about his victory, the future of dell and the toll this battle took on his company. >> it was some distraction. the team at dell did great job staying very, very focused. the last quarter our enterprise solution service grew 9%. one of our principal competitors had a 9% change in their business except in their case it was n

of the economy and the potential for a budget fight in washington. goldman sachs, nike and visa began to trade on the dow replacing alcoa, bank of america and hewlett-packardow down 53. the nasdaq down 8. s&p down 7. >>> the canadian smartphonemaker blackberry announced they are selling out to fairfax financial holdings. this puts the price tag at $4.7 billion. fairfax has 10% of the company's shares right now. fairfax's ceo says he plans to operate blackberry has a private company. >>> s it what a record- -- it was a record-opening record for apple phones sell since the phones went on sale on friday. >>> the sacramento kings are set to make a big announcement about a former nba great, joining its ownership group. the kings will formally introduce shaquille o'neal tomorrow. he has acquired a minority stake in the team under its new owner. shaqer to month meanted the kings with the -- toremented the kings with his career with the lakers. he wants to stay in sacramento rather than move to seattle. >>> changes are coming for disabled visitors at disneyland. starting oth 9th disabled guests won't be able to jump to the front of the line. instead, they will rec

alcoa, bank of america, and hewlett-packard will be dropped from the index of america's top companiesecause of low stock prices. taking their place, goldman sachs, nike, and visa. it's the biggest change in a decade and will take effect september 23rd. >>> and it turns out that rumors about apple's new iphones were right. the tech giant unveiled the new iphone yesterday. it's faster, has a better camera, and a fingerprint scanner for security. it also introduced the cheaper iphone 5c. it has a new plastic shell and comes in five different colors. both run on the new ios 7 software which will be a free download starting september 18th. >> an many re? >> marlie hall in new york, thank you, marlie. >>> why a museum dedicated to the 9/11 deadly attacks is still in the works. (balloons popping) but with advair, i'm breathing better. so now i can help make this a great block party. ♪ [ male announcer ] advair is clinically proven to help significantly improve lung function. unlike most copd medications, advair contains both an anti-inflammatory and a long-acting bronchodilator working toget

of trading september 20th. they'll really take effect september 23rd. in, goldman sachs, visa and nike. out, alcoa, bank of america and hewlett-packard. dom min nick chew breaks down the numbers on all six companies what it means to their stock prices and people that own the shares. >> look at what's happening intraday day so far. yes, the market is up overall but check out today's trade it's an up trade but the newest members of the dow are getting a pop ahead of their index inclusion september 23rd. goldman sachs up nearly 3.5% to 165 bucks a share. visa up about 3% we'll call it to 184 dollars and then nike up about a 1.5% to 66.48 a share. nike shares did hit a record high on the heels of this news. as for the names being dropped in the dow, kind of a mixed bag of sorts. hewlett-packard, alcoa are down, but bank of america is joining all the other financials moving to the upside despite being unfriended by the dow. for the momentum these guys have going into this inclusion, visa up about 15% this year. goldman 21% to the upside. and nike is up get this 26%. some serious momentum there. as for the dropped stocks, hewlett-packard has

of your hand. call us for a free security review. tyco integrated security. safer. smarter. tyco. >>> goldman sacks, nikkei and visa started to trade replacing alcoa, bank of america and hewlett-packardter is in discussions with several banks about a new credit line that could run into hundreds of millions of dollars. details are still being worked out. twitter warrants the money to give it more flexible before it goes public. the ipo is expected before the end of the year. the government will introduce new $100 bills next month and some of them will be worth more than ten times their face value. that's not because of a printing error. it's because each bill has a serial number on it and collectors are willing to pay high prices for the ones with the serial numbers. experts say the bills with the very lowest to go for $15,000. >>> wastewater officials around the country complaining about what they call a multi-million dollar problem. they say bathroom wipes advertised as flushable may not be flushable. the authorities say the wipes do go down the pipes but they don't break down as they go through the sewer system and that's what's clogging up pipes. now the wastewater industry will a

him on -- >> hollywood is sort of what have you didn't for me lately thing, i don't buy the script thing. neil: and dow stock shake up bank of america, alcoa, hewlett-packard, goldman, nike and visa ar in, the new instocks are buying and out ones you drop them? >> a lot of times one that drop will outperform for a while. but people who put up dow are trying to do what people are home are doing going for performance, they look at alcoa, never moving, and hewlett-packard should be in the 20s anyway, and bank of america, who even knows what is balance sheet, go for visa and goldman sachs back and nike, if you betting you want your index to do well you go with those 3. neil: what do you think? >> he is right, performance, if you look at dow versus other major indexes in last 6 months it is lagging, alcoa has not been a bellwether since i was prom king, hewlett-packard is probably going out of business. neil: wow, prom king. >> and i tell you, you know visa is another one, cash is so 2012, everyone is using plastic. neil: i think i asked all women that you turned down if wow would go with me, i think i went with my mom. >> how did you do? >> she said no. >> kee

three big names are out of the dow, hewlett-packard, bank of america, alcoa and two are down and b of a fraction. and these take effect at the start of trading on september the 23rd. nicole, have you got anything on this one? . nicole: this is the biggest shake-up in a decade. remember that alcoa has been in the dow for 54 years. it's interesting to see hewlett-packard, which is doing so well this year, but the truth of the matter is those three names have underperformed the broader market over the latest year and they have lower stock prices. so, it's interesting to see, there you have the big ones, bank of america. alcoa, hewlett-packard out. and i was told they were considering eight changes, not these three, but eight. and they rejected them that they're overly dramatic. >> that's just nuts. three at a time is good, right? come on, that's happening too much. stuart: i tell you, i can't work out the math. why isn't google in there and apple in there. how could you put in a 900 stock and 500 stock. my head is spinning, i don't understand the mathematics of the average. nicole: and t

and the nasdaq went up 22. >>> a big change in the markets palo alto based helicopter helicopter one of three companies -- hewlett-packard alcoa and bank of america are off the dow replaced by three other companies. >>> walmart is launching a smartphone trade-in program. take your phone into a walmart or a sam's club store. you can get anywhere from 50 to $300 for it based on the condition and the type of phone that you're turning in. but here is the catch. you're going to be given a credit that can only be used to buy another phone from walmart. >>> those street views you see on google maps are cool to look at but a judge hints it's creepy. why google issued an apology. >> a heartwarming act of heroism in the south bay as a police officer prevents a bad situation from getting worse. ,, for a store near you go to benjaminmoore.com/bayarea. license and registration please. what's this? uhh, it's my geico insurance id card, sir. it's digital, uh, pretty cool right? maybe. you know why i pulled you over today? because i'm a pig driving a convertible? tail light's out.. fix it. digital insurance id cards. just a click away with the geico mobile app.

the dow generals indices have added goldman sachs, visa and nike and they're going to replace bank of america, hewlett-packard and alcoa shakeup in a decade and when it takes place before the open on monday, september 23rd, the top three weighted stocks will be ibm, visa and goldman sachs. so here to discuss is an old friend, gerard baker. now managing director at the "wall street journal." welcome. great to have you here. >> thank you, larry. >> i think the -- i think the controversial one was taken b of a out and putting goldman sachs in. what did you talk about with them? >> well, it's my job to break the happy news to those entering the dow jones industrial average and to talk to the chief executives companies that are leaving. those conversations, everybody is obviously -- coming into the index is pleased because it is not only -- not only important for their financials, it helps indexes as you know that have to track the companies. actually load up on the stock. but they regard it as an important element of their prestige and i think lloyd blankfein and others think it's that's how they view it. they regard it po

of dow stocks to handicap. they begin trading in the dow industrials and relace alcoa and hewlett-packard and bank of america. >inkedin is harvesting contacts without their permission. four users filed a class action suit saying linked in asking people to join their service. link linkedin says the following. we never deceive you by pretending to be you in order to access your e-mail account. the lawsuit is seeking damages on behalf of all linkedin users. >>> maybe the third time really is a charm for billionaire investor. over the weekend george soros got married over the weekend and married tamiko bolton. this is the reception. 500 people attended this reception including house democratic leader nancy pelosi and former u.n. secretary kofi annan attended that reception. soros is best known for the british pound in 1992. the one trade netted him $1 billion. he has been divorced twice. maybe he's in love? >> our best luck to that couple. i think they are going to make it. >> i want to see more video. >> i want to see the prenup. >> always interesting with a billionaire. >> third marriage, right? >> third, yeah. >

of the times? america's most closely watched stock index-- the dow jones industrial average-- is getting a makeover. its three weakest performers-- former giants bank of america, hewlett-packard and alcoa be removed from the 30-stock index and replaced by goldman sachs, visa, and nike. those that run the dow say the changes better reflect the u.s. economy. apple no longer dominates the market in smart phones, but today the company rolled out two new products that it hopes will turn things around. here's carter evans. >> the most forward-thinking phone we've ever created. >> reporter: the new iphone 5s is fast we are a better camera and a fingerprint scanner for security. but apple's phil shiller said for the first time the company is also offering a cheaper iphone-- the 5c. >> it comes in five colors-- blue, white, pink, yellow, and green-- at a price of just $99. >> reporter: is apple changing its focus from ground-breaking technology to affordable? >> in some ways. apple is going the more mainstream route. >> reporter: tim stevens is from the technology web site cnet. he says apple is looking beyond the u.s. to china. why is china so important to apple. >> we're talking about 700 mil

of the dow gave two manufacturing companies the boot. alcoa and hewlett-packard, as well as eliminating bank of america from the list. the latter only managed five years. hewlett-packard 16 years now. and goldman sachs, nike and visa. and i think these changes say a great deal about what's happening in america and the world today. now before i go over the meeting of the changes i see, i understand the dow jones industrial average itself has lots of flaws. it's the much broader s&p 500 that is the benchmark for stocks, the one that portfolio managers must beat. if they're going to brag they outperformed the market. the dow is too narrow and the way it's calculated, not the companies with the largest market gaps. that means visa at 184 and goldman sachs will play a bigger role than they should, in my opinion, in calculating the index each day. nor should they necessarily have gone up on the news. there is very little money index in the dow. it's not like the s&p 500 and you see it jump, needed lots of buying, rebalance the index. no. the idea that goldman sachs should have jumped $5.65 when the visa rallied or nike shou

of trading names on the move, the dow jones industrials up 112 -- 112 points, the u.s. dollar looking good and commodities pulling back. and seasoned changes. bank of america, alcoa and hewlett-packardoming out of the doubt. goldman sachs, nike and visa larger stock price, the more it has waited within the index. this is the biggest shakeup we have seen in a decade. the three names coming out of theedow, bank of america, alcoa and gillick packard have been underperformers so interesting to see these changes, this will occur friday after the closing bell. remembers another changes were united healthcare came in and craft was out and citigroup was replaced by travelers. gm was supplanted by the network company cisco systems so there have been changes but this one three at a time is a big deal. dagen: $1 share stock price, negligible impact on the dow 30. it won't make a difference. syria's foreign minister says his country will accept a russian proposal to turn over its chemical weapons stockpile international authorities, last night fox news's chris wallace asked president obama if that would be enough to delay a congressional vote for military action against syria. >> we should expl

of the two new iphones. investors were concerned there were no must have features and they'll end up hurt the profit margins. the dow jones announced that hewlett packard, bank of america and alcoaill be removed. hp has been part of the index since 1987 but suffer add steep decline since more are buying smartphones and tablets. >>> a congressional hearing today focused on state and local marijuana laws. secretary holder said that federal authorities will no longer interfere with state that is adopt marijuana laws. they heard an opinion for and against. >>> increased fire danger forced the closure of alan rot park. today's decision to shut down the park has to do with the strain on the mt. diablo fire. the city says conditions will be assessed everyday and that closures could extend throughout the week. >>> at least today the temperatures came way down and bill that is certainly good news. >> they came down a lot. numbers were down 10 to 15 degrees. we had 100-degree temperatures yesterday. today we were in the upper 80s. here is the satellite loop. you can see the fog present along the coast and it really pushed in last night. you know it's going to push inland tonight. it's in

. >> gaft noon, goldman sacks, visa and nike will be added to dow jones replacing bank of america hewlett-packard and alcoa. this these changes scheduled to take affect september 20th. net flix shares rising to a high today after the company said it will integrate with a major pay tv provider. some virgin media customers will be able to access net flix through their set top boxes. and most needed to improve their $25 billion leverage buyout according to people familiar with the matter two thirds indicated support for the transaction. official results come this thursday. stocks closing higher today, extending the winning streak for s and p since july. amid signs of easing tensions in syria. and google teeming up with harvard, mitt and stanford to join ed ex, delivering advanced courses to any student around the world-to-with access to the internet. from bloomberg studios i'm emily chang, back to you. >> thank you. >> bay area job market still kind of a mixed bag. one sector is finance that is hiring. high-level positions being offered at today's job journal hire event in san francisco. some paying up to $15

it's dropping bank of america, hewlett-packard and alcoa and will replace them with goldman sachs, visaike. the changes take effect september 23rd. this the sift three for three change -- first three for three change since april 8th, 2004. >>> at least 89 people have reported getting sick after eating the recently recalled chobani breek yogurt. no link has been confirmed between the illnesses and. >>> coming up on the 5:00 news, we continue to follow the firefight on mt. diablo. we go back to the fire lines to see how firefighters are doing plus the dangers still posed for dozens of homeowners near the fire lines. all of that and more tonight at 5:00. >>> thank you for making ktvu your choice for news. we'll see you the next time news breaks. we're always here for you at ktvu.com and mobile ktvu.com. mom? did nana ever give you cheerios when you were a little kid? yeah, she did. were cheerios the same back then? cheerios has pretty much been the same forever. so...when we have cheerios, it's kind of like we are having breakfast with nana... yeah... ♪ yeah. you're so smart. zabeth. and t

: three do components making their debut today goldman sacks, the set and a nike replacing bank of america, hewlett-packard and alcoaainder of the year? this is a new dow 30. we ever senior equity strategist starting with you i know of you can see the return in your studio beyer is goldman sachs it is down $4 and change that is an impact to the negative. was this the right move? >> laura goldman sachs both of those have more potential than the firms they replaced that gives the dow little better upside. cheryl: you say it makes it less diverse? >> yes. you have more technology because it is classified as a technology stock even if you put it in their rightful place of financials that means they are up by 19%. so with the more broadbased position in. cheryl: that is a good point. let's bring in scott. looking at year-to-date you can see it is up substantially sure we are up almost 20 percent year-to-date but it would have been exponentially a lot higher maybe 20 percent. those in the dow 30. >> and those that are arguably in better shape that were removed but instead the importance does the same thing. and paying att

. >>> looking for big changes in the makeup of the dow jones industrial average starting on monday. alcoa, hewlett-packard, and bank of america are out while goldman sachs, nike, and veisa are in. pending home sales and seams of newly built homes should both be higher for the month of august while prices for homes sold in the month of july are expected to have risen. >>> this week we will get a read on growth during the springtime with a look at the second quarter gdp. >>> and apple iphones went on sale last week. hitting stores this week is the gear smart watch. microsoft will unveil an updated surface tablet computer. >>> cable tv's g-4 channel officially becomes an esquire channel aiming for a more upscale male audience just like the magazine. i'm sue herera and get all your news on cnbc.com. >>> finally this morning, the bay area is a hot bed for olympic level swimming. but now japanese researchers have developed a robot that would fit right in. it's made from plastic so it can float and it has joints so it can move like a human. engineers hope to improve the performance to replicate the movements of olympic swimmers. the

and we also want to see how the dow will look like come september 23rd, right. as we mentioned nike is replacing alcoa, goldman sachs replacing bank of america and visa replacing hewlett-packard. see the wonderful graphics behind me. this is the biggest shakeup of the index that we have seen in a decade. let's get straight down to the trading floors. bob pisani at the nyc and rick santelli in chicago. when you see what they have in common, they're the three cheapest stocks in the dow even with hp's comeback this year. when you have a price weighted index like the dow they didn't cut it anymore. what are the broader implications for the market here? because it seems like it's a bit of an artificial bunlp. >> it is. look this is good news for dow jones and the dow jones industrial average. they need to keep freshening the index. they can't have the low priced stocks. they need to change with the times. nike, big consumer name, economy moving more towards consumer, make those kinds of changes. in terms of how it's going to affect the market the answer is not that much. let me show you where the money is, is at the s&p 500. there's not a lot of money indexed to the dow jones indu

that would be bank of america, aluminum-maker alcoa and hewlett-packard.have been underperformers and also the fact that they have lower stock prices. how about the major market averages for you? great day on wall street tacking on to yesterday's 144-point gain. dow is now up 10. back to you. tracy: nicole, we'll see you in 15 minutes. ashley: continuing to follow breaking news from apple out in california, the event out there, just announced touch i.d. fingerprint technology on the new phone 5s. it is rumored and now officially announced. robert gray at the event in california with the very latest. robert. >> that's right, ashley. touch i.d. will basically be the home button. instead of pushing this, if you have a code that locks it and punch in the four digits whatever to unlock it, you simply put your finger there, it will recognize you. not only do that but allow you to make payment, secure payment online. not only that of course, apple being apple, making it very easy or at least trying to buy more things from who else, apple. you will be able to use

of trading on friday, september 20th. three dow components on the way out. bank of america, hewlett-packard and alcoa. sandy's right. coming in than those going out. when we come back, the chairman of the s&p 500 index committee. >>> plus, lessons from the financial crisis five years later. we will talk with the former chairman and ceo of national financial partners. by the way, also happens to be the daughter of our guest host sandy weill. welcome. [ music transitions to rock ] make it happen with the all-new fidelity active trader pro. it's one more innovative reason serious investors are choosing fidelity. get 200 free trades when you open an account. [ male announcer ] these days, a small business can save by sharing. like carpools... polly wants to know if we can pick her up. yeah, we can make room. yeah. [ male announcer ] ...office space. yes, we're loving this communal seating. it's great. [ male announcer ] the best thing to share? a data plan. at&t mobile share for business. one bucket of data for everyone on the plan, unlimited talk and text on smart phones. now, everyone's in the spirit of sharing. hey,

with hewlett-packard along with alcoa and bank of america getting replaced by three other firms including visa as well as goldman sachs and nike. chief reasoning coming from the dow jones index is that while the three companies leaving have had low stock prices and they think the other three companies are more representative of a broader industrial gauge of the world economy. stock market overall has been a solid day today thanks to hope over syria giving up its chemical weapons. dow up 110. >> thank you, kcbs radio's financial reporter jason brooks. >>> developing news in berkeley a man dying in an early-morning fire in an apartment building. 56-year-old andrew goodwin was found on the third floor. he was taken to alta bates medical center, where he later died. goodwin was a professor of media studies at usf and author of a well regarded book on music television. the fire in berkeley was first reported at 1:40 this morning and firefighters found the third floor engulfed in flames. 7 other people were able to get out safely from the building on oregon street near telegraph avenue. none of

dow jones industrial average announced it's dropping the bay area's hewlett-packard from the index along with alcoa and the bank of americagoldman sachs, visa and nike have taken their place. hewlett-packard added to the dow back in 1997. b of a, about the same. in the last couple of years, about three years, hp's stock value has been cut in half. pc sales have been hurt by tablets and smartphones. now, stock price is usually the main reason for making the switches on the dow. the three stocks leaving, hp, b of a and alcoa have an average price of $15 a share. the new companies, goldman, visa and nike, average $134 a share. it's a big change, especially for alcoa, the aluminum company that traditionally kicks off earnings season every quarter and has been a dow component for 54 years. now, that switch announced this morning takes effect with the close of trading next friday, september 20th. reporting live in the newsroom, pam cook, ktvu channel 2 news. >> thanyou, pam. >>> today, a congressional hearing will focus on the conflicts between states and federal marijuana laws. the hearing was requested after attorney general

we'll begin with goldman, visa and nike being added to the blue chip index at the close of trading september 20th. they'll replace bank of america, hewlett packard and alcoa. the indices says the changes were because of the low stock prices and the desire to diversify the sector and industry representation in the dow. interestingly, although goldman, nike and visa are all beating the doubt for the year, hp is the best performance component this year. >> and one of the things that we've seen is that people buy these stocks in the premarket and there's not a lot of money, meaning very little index to it so they tend to give it up. that's one of the reasons why people say, hey, every time they're added they go down. well, no, they're added, they go up because of this mistaken idea that it really does matter. it's, as sandy weill said, great to be in because it's a great hall mark. don't trade premarket in these stocks. >> and it may be a reflection of sentiment in some larger way or history or the place for these companies at a certain point in time. as you said, there's no money indexed against djia. the higher the price the more effect on the dow jones. th

hewlett-packard, alcoa and bank of america are being booted out of the dow and they are being replaced by foster city-based visa, along with nike and goldman sachs. the dow jones indices says the companies leaving are -- because they have low stock prices and they wanted better representations of other industrial sectors in the 30-stock index. hhp joined dow in 1997 replacing texaco. >>> apple is key for today. just a few hours from debuting two new iphones in cupertino. lots of keys for investors. how cheap will that 5c iphone be? there will be a partnership announcement with china mobile? right now apple shares are down by 1% in the early going. overall stocks doing well for the second straight day. this on some relief and hopes that syria will indeed give up its chemical weapons stockpiles in order to avoid a u.s. military strike. let's check the big board now. the dow is up 69 points. nasdaq is gaining about 14. s&p is up 7 points. hp shares down 2% on the dow shake-up. visa meanwhile is up by 2%. michelle and frank, back to you. >> thank you, jason brooks from kcbs news. >>> time

alcoa and hewlett-packard and bank of america, good-bye, you're exiting. good-bye. >> if you went to sleep early last night, there are a few highlights from the emmys that you missed. hbo dominated with the most trophies. 27 in total. abc's "modern family" won best comedy. amc grabbed the best drama prize for "breaking bad." speaking of walter white's saga, guess who got a shoutout in last night's episode? >> you're aware that there are people who suggested the motives. andrew l. sorkin of "the new york times" wrote a column suggesting that the grant was a kind of publicity maneuver to shore up the stock price on technologies because of your association with walter white. >> well, that's not exactly -- >> so to speak of having a methamphetamine kingpin as co-founder of your company. >> did you hear it? did you hear it, a. drew l. sorkin. it mentioned your column. >> if you didn't understand -- if you are watching, do you feel like it's been spoiled? i hope not. >> i don't think it was spoiled there. >> he got his hair back. >> number two, he's a methamphet

hewlett-packard has been kicked off, alcoa, aluminum and bank of america voted off the island to be replacedn francisco's visa, nike and gold man sackings. the dow measures 30ps, most are on the exchange. other news, 10:00 a.m. our time for the apple announcement. you see live pictures from the cupertino headquarters where they will have the announcement. we expect two new iphones. we'll have full coverage. >> a lot of color in that gift wrap. maybe it's an indication. >> looks like that will happen. thank you, scott. well, right now we're getting a new look at plans for the largest office project proposed in san jose. a real estate firm wants to build a 2 million square foot complex along the area there by highway 101 near the intersection of brokaw and north first street. city officials say up to 10,000 people could work in 10 proposed office buildings, each 7 stories high. this project would cost an estimated 400 million. >> glad i'm not writing that check. negotiations are street resume between b.a.r.t. and one of its large labor unions. the first negotiations since are focused on minor

so they're taking out hewlett-packard, alcoa, they make aluminum, and bank of america.and it's sort of retailish. visa is big and it's a huge pulse of the american economy. why do you balance bank of america putting goldman? bank of america, one-two punch with jpmorgan, the big e banks in this country. goldman sachs, half the size almost. that didn't make a lot of sense to me. >> because they do it based on share price also. and so if you look at boa share price, it's off the lows but it's still fairly low compared to where goldman sachs is has recovered far more dramatically from the financial crisis. >> it's a price-weighted index. i want to point out to mika and everybody else the s&p 500 what most traders look at more than the dow. the dow more for publications and for regular people to talk about. >> it's the oldest so everybody kind of knows about it, but the s&p 500 called the s&p 500 because it has 500 stocks. so it's much more reflective of the overall economy and the global economy, whereas the dow jones industrial average only 30 and they tend to be the big,