Tuesday, November 18, 2008

Late Day Rally attributed to beer . . . . BUD that is

Index funds, which represent about 10 percent of the stock market, ``got $5 billion from owning BUD.'' BUD is the ticker symbol for Anheuser-Busch, brewer of Budweiser beer. ``The stock that was added was a $500 million weight, so about $4.5 billion has to be put to work,'' said Buek. ``That money was spent across the other 499 names. To perfectly track the close, you'd want to put the $4.5 billion to work on the close.''

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