A change in the S&P 500 stock index
This final note on the way out, an observation about the ever-evolving state of the American economy. Standard & Poor’s announced some changes to the S&P 500 stock index today. Bear in mind that the S&P’s often called the best indicator of the broader market, listing, as it does, 500 companies, not just 30 of ’em like the Dow. Anyway, the New York Times Company is one of several being dropped from the S&P. It’s going to be replaced by Netflix. That is to say, a major American media conglomerate’s not as good an indicator of the health of corporate America, as a company whose main business line is sending movies down an Internet pipeline.
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