S&P 500 index - Wikipedia S&P 500 index This article may require cleanup to meet Wikipedia 's quality standards. The specific problem is : Scattered sentences, badly formatted bullets, etc. Please help improve this article if you can. ( August 2015 ) S&P 500 S&P 500 Index from 1950 to 2016 Foundation March 4, 1957 ; 60 years ago ( 1957 - 03 - 04 ) Operator S&P Dow Jones Indices Exchanges NYSE, NASDAQ Constituents 505 Type Large - cap Market cap US $21.4 trillion ( as of February 28, 2017 ) Weighting method Free - float capitalization - weighted Related indices List S&P 1500 S&P Global 1200 S&P 100 Website us.spindices.com/indices/equity/sp-500 A linear chart of the S&P 500 using closing values from January 3, 1950 to February 19, 2016 A logarithmic chart of the S&P 500 using daily closing values from January 3, 1950 to February 19, 2016. A daily volume chart of the S&P 500 from January 3, 1950 to February 19, 2016 Logarithmic graph of the S&P 500 index with simple trend lines The Standard & Poor 's 500, often abbreviated as the S&P 500, or just `` the S&P '', is an American stock market index based on the market capitalizations of 500 large companies having common stock listed on the NYSE or NASDAQ. The S&P 500 index components and their weightings are determined by S&P Dow Jones Indices. It differs from other U.S. stock market indices, such as the Dow Jones Industrial Average or the Nasdaq Composite index, because of its diverse constituency and weighting methodology. It is one of the most commonly followed equity indices, and many consider it one of the best representations of the U.S. stock market, and a bellwether for the U.S. economy. The National Bureau of Economic Research has classified common stocks as a leading indicator of business cycles. The S&P 500 was developed and continues to be maintained by S&P Dow Jones Indices, a joint venture majority - owned by S&P Global. S&P Dow Jones Indices publishes many stock market indices such as the Dow Jones Industrial Average, S&P MidCap 400, the S&P SmallCap 600, and the S&P Composite 1500. It is a free - float capitalization - weighted index, and has many ticker symbols, such as : ^ GSPC, INX, and $ SPX. Contents 1 History 2 Price history 3 Selection criteria 4 Components 5 Versions 6 Weighting 7 Index maintenance 8 Calculation 9 Update frequency 10 Investing 11 Market statistics 11.1 Milestones 11.2 Annual returns 12 See also 13 References 14 External links History This section needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. ( September 2013 ) The `` Composite Index '', as the S&P 500 was first called when it introduced its first stock index in 1923, began tracking a small number of stocks. Three years later in 1926, the Composite Index expanded to 90 stocks and then in 1957 it expanded to its current 500. Standard & Poor 's, a company that doles out financial information and analysis, was founded in 1860 by Henry Varnum Poor. In 1941 Poor 's Publishing ( Henry Varnum Poor 's original company ) merged with Standard Statistics ( founded in 1906 as the Standard Statistics Bureau ) and therein assumed the name Standard and Poor 's Corporation. The S&P 500 index in its present form began on March 4, 1957. Technology has allowed the index to be calculated and disseminated in real time. The S&P 500 is widely used as a measure of the general level of stock prices, as it includes both growth stocks and value stocks. In September 1962, Ultronic Systems Corp. entered into an agreement with Standard and Poor 's. Under the terms of this agreement, Ultronics computed the S&P 500 Stock Composite Index, the 425 Stock Industrial Index, the 50 Stock Utility Index, and the 25 Stock Rail Index. Throughout the market day these statistics were furnished to Standard & Poor 's. In addition, Ultronics also computed and reported the 94 S&P sub-indexes. Price history On August 12, 1982, the index closed at 102.42. The index reached a relative intraday high -- which was not exceeded for over seven years -- of 1,552.87, on March 24, 2000, during the dot - com bubble. The index then declined by approximately 50 %, to 768.63, on October 10, 2002, during the stock market downturn of 2002. On May 30, 2007, the S&P 500 closed at 1,530.23, to set its first all - time closing high in more than seven years. Although the index achieved a new all - time intraday high on October 11, 2007, at 1,576.09, following a record close of 1,565.15 on October 9, the index finished 2007 at 1,468.36 points -- just below its 1999 annual close. Less than a month later, it dropped to 1,400, and would not see similar levels again for five years. In mid-2007, the subprime mortgage crisis spread to the wider U.S. financial sector. The resulting situation became acute in September 2008, ushering in a period of unusual market volatility, encompassing record 100 - point swings in both directions and reaching the highest levels since 1929. On November 20, 2008, the index closed at 752.44, its lowest since early 1997. A modest recovery the following day still left the index down 45.5 % for the year. This year - to - date loss was the greatest since 1931, when the broad market declined more than 50 %. The index closed the year at 903.25, for a loss of 38.5 %. The market continued to decline in early 2009, surrounding the financial crisis of 2008. The index reached a nearly 13 - year low, closing at 676.53, on March 9, 2009. On March 23, 2009, the S&P 500 marked a 20 % gain when it hit 822.92. The Dow Jones Industrial Average soon followed. The close for 2009 was 1,115.10, making it the second - best year of the decade. On April 14, 2010 the index broke 1200 closing at 1210.65, but by July 2, 2010 it had closed at 1022.58. On April 29, 2011, the index closed at 1363.61, but it had a sharp drop in August and briefly broke 1100 in October ( with the VIX hitting 40 ). Gains continued despite significant volatility amid electoral and fiscal uncertainty, and the 2012 close of the S&P 500 following QE3 was its third - highest ever, at 1,426.22 points. Many people hated the bull market. On March 28, 2013, it closed above the closing high from 2007. On April 10, 2013, it also closed above the intraday high from 2007. On May 3, 2013 -- more than 13 years since its first close above 1,500 -- the S&P 500 closed above 1,600 for the first time, at 1,614.42. This would be the first of three 100 - point milestones in 2013 : 1,600 on May 3, 2013 ; 1,700 on August 1, 2013 ; and 1,800 on November 22, 2013. The S&P 500 closed out 2013 at a record high, finishing the December 31, 2013, trading day at 1,848.36. On May 23, 2014, the index for the first time closed above 1,900, at 1,900.53. On August 26, 2014, the index closed above 2,000 for the very first time, and on December 22 the S&P 500 climbed to 2078, an all - time high. The index closed on December 29 at 2,090.57 with a closing of 2,058.90 at the end of 2014. This was a gain of 85 % ( in price return, and 105 % in total return ) for the five years 2010 -- 2014. On February 17, 2015, the index first closed above 2,100, closing at 2,100.34. On February 25, 2015 it reached 2,119.59 during mid-day, and on the following day it closed at record high of 2,115.48. On May 21, 2015, the index closed at 2,130.82, its high point for the year. At the end of 2015, the index closed at 2,043.94, down 0.73 % for the year. A period of over a year with no new record highs ended on July 11, 2016 ( closing at 2,137.16 ). In June 2017, the index saw the largest weekly rise since the past presidential election in November 2016. Selection criteria The components of the S&P 500 are selected by a committee. This is similar to the Dow Jones Industrial Average, but different from others such as the Russell 1000, which are strictly rule - based. When considering the eligibility of a new addition, the committee assesses the company 's merit using eight primary criteria : market capitalization, liquidity, domicile, public float, sector classification, financial viability, length of time publicly traded and stock exchange. The committee selects the companies in the S&P 500 so they are representative of the industries in the United States economy. In order to be added to the index, a company must satisfy these liquidity - based size requirements : market capitalization is greater than or equal to US $6.1 billion annual dollar value traded to float - adjusted market capitalization is greater than 1.0 minimum monthly trading volume of 250,000 shares in each of the six months leading up to the evaluation date. The securities must be publicly listed on either the NYSE ( including NYSE Arca or NYSE MKT ) or NASDAQ ( NASDAQ Global Select Market, NASDAQ Select Market or the NASDAQ Capital Market ). Securities that are ineligible for inclusion in the index are limited partnerships, master limited partnerships, OTC bulletin board issues, closed - end funds, ETFs, ETNs, royalty trusts, tracking stocks, preferred stock, unit trusts, equity warrants, convertible bonds, investment trusts, ADRs, ADSs and MLP IT units. The index includes non-U.S. companies, both formerly U.S. - incorporated companies that have re-incorporated outside the United States, as well as firms that have never been incorporated in the United States. Components Main article : List of S&P 500 companies Versions The `` S&P 500 '' generally quoted is a price return index ; there are also `` total return '' and `` net total return '' versions of the index. These versions differ in how dividends are accounted for. The price return version does not account for dividends ; it only captures the changes in the prices of the index components. The total return version reflects the effects of dividend reinvestment. Finally, the net total return version reflects the effects of dividend reinvestment after the deduction of withholding tax. Weighting The index has traditionally been capitalization - weighted ; that is, movements in the prices of stocks with higher market capitalizations ( the share price times the number of shares outstanding ) have a greater impact on the value of the index than do companies with smaller market caps. That is, Standard & Poor 's now calculates the market capitalization of each company relevant to the index using only the number of shares available for public trading ( called the `` float '' ). This transition was made in two steps, the first on March 18, 2005 and the second on September 16, 2005. Index maintenance In order to keep the S&P 500 Index consistent over time, it is adjusted to capture corporate actions which affect market capitalization, such as additional share issuance, dividends and restructuring events such as mergers or spin - offs. Additionally, to remain indicative of the U.S. stock market, the constituent stocks are changed from time to time. Between January 1, 2005 and January 1, 2015, 188 index components were replaced by other components. To prevent the value of the Index from changing merely as a result of corporate financial actions, all such actions affecting the market value of the Index require a divisor adjustment. Also, when a company is dropped and replaced by another with a different market capitalization, the divisor needs to be adjusted in such a way that the value of the S&P 500 Index remains constant. All divisor adjustments are made after the close of trading and after the calculation of the closing value of the S&P 500 Index. There is a large range of different corporate actions that can require the divisor to be adjusted. These are listed in the table below : Type of Action Divisor Adjustment Stock split ( e.g., 2 × 1 ) No Share issuance Yes Share repurchase Yes Special cash dividend Yes Company change Yes Rights offering Yes Spinoffs Yes Mergers Yes Calculation To calculate the value of the S&P 500 Index, the sum of the adjusted market capitalization of all 500 stocks is divided by a factor, usually referred to as the Divisor. For example, if the total adjusted market cap of the 500 component stocks is US $13 trillion and the Divisor is set at 8.933 billion, then the S&P 500 Index value would be 1,455.28. Although the adjusted market capitalization of the entire index can be accessed from Standard & Poor 's website, the Divisor is considered to be proprietary to the firm. However, the Divisor 's value is approximately 8.9 billion. The formula to calculate the S&P 500 Index value is : Index Level = ∑ ( P i ⋅ Q i ) D i v i s o r ( displaystyle ( \text ( Index Level ) ) = ( sum left ( ( P_ ( i ) ) cdot ( Q_ ( i ) ) \right ) over Divisor ) ) where P is the price of each stock in the index and Q is the number of shares publicly available for each stock. The divisor is adjusted in the case of stock issuance, spin - offs or similar structural changes, to ensure that such events do not in themselves alter the numerical value of the Index. Update frequency The index value is updated every 15 seconds during trading sessions and is disseminated by Reuters America, Inc., a subsidiary of Thomson Reuters Corporation. Investing Many index funds and exchange - traded funds attempt to replicate ( before fees and expenses ) the performance of the S&P 500 by holding the same stocks as the index, in the same proportions. Many other mutual funds are benchmarked to the S&P 500. Consequently, a company whose stock is added to the list of S&P 500 stocks may see its stock price rise, as index funds must purchase that company 's stock in order to continue tracking the S&P 500 index. Mutual fund managers provide index funds that track the S&P 500, the first of which was The Vanguard Group 's Vanguard 500 in 1976. In addition to investing in a mutual fund indexed to the S&P 500, investors may also purchase shares of an exchange - traded fund ( ETF ) which represents ownership in a portfolio of the equity securities that comprise the Standard & Poor 's 500 Index. These exchange - traded funds track the S&P 500 index and may be used to trade the index. Investors may also invest in all the stocks of the S&P 500 directly, which is usually called index replication. In the derivatives market, the Chicago Mercantile Exchange ( CME ) offers futures contracts ( ticker symbols / SP for the full - sized contract and / ES for the E-mini contract that is one - fifth the size of / SP ) that track the index and trade on the exchange floor in an open outcry auction, or on CME 's Globex platform, and are the exchange 's most popular product. Additionally, the Chicago Board Options Exchange ( CBOE ) offers options on the S&P 500 as well as S&P 500 ETFs, inverse ETFs and leveraged ETFs. Market Statistics This section needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. ( August 2012 ) Milestones Main article : Closing milestones of the S&P 500 Index On October 11, 2007, S&P index set a milestone with its all - time intraday high of 1,576.09. On March 28, 2013, the S&P finally surpassed its closing high level of 1,565.15, recovering all its losses from the financial crisis. On March 2, 2015, the S&P finally closed at a new all - time inflation - adjusted closing high, though it has yet to achieve a new all - time inflation - adjusted intraday high, both of which were set back in 2000. Annual returns ( total return ) Calculation used for CAGR ( Compound Annual Growth Rate, Annualized Return ) : CAGR = ( ( Ending Value ) / ( Starting Value ) ) ∧ ( 1 / ( # of years ) ) -- 1 The current CAGR through 2016 is calculated at 10.30 %. Year Change in Index Total Annual Return Including Dividends Value of $1.00 Invested on 1970 ‐ 01 ‐ 01 5 Year Annualized Return 10 Year Annualized Return 15 Year Annualized Return 20 Year Annualized Return 25 Year Annualized Return 1970 0.10 % 4.01 % $1.04 - - - - - 1971 10.79 % 14.31 % $1.19 - - - - - 1972 15.63 % 18.98 % $1.41 - - - - - 1973 − 17.37 % − 14.66 % $1.21 - - - - - − 29.72 % − 26.47 % $0.89 − 2.35 % - - - - 31.55 % 37.20 % $1.22 3.21 % - - - - 1976 19.15 % 23.84 % $1.51 4.87 % - - - - 1977 − 11.50 % − 7.18 % $1.40 − 0.21 % - - - - 1978 1.06 % 6.56 % $1.49 4.32 % - - - - 1979 12.31 % 18.44 % $1.77 14.76 % 5.86 % - - - 1980 25.77 % 32.50 % $2.34 13.96 % 8.45 % - - - 1981 − 9.73 % − 4.92 % $2.23 8.10 % 6.47 % - - - 1982 14.76 % 21.55 % $2.71 14.09 % 6.70 % - - - 17.27 % 22.56 % $3.32 17.32 % 10.63 % - - - 1984 1.40 % 6.27 % $3.52 14.81 % 14.78 % 8.76 % - - 1985 26.33 % 31.73 % $4.64 14.67 % 14.32 % 10.49 % - - 1986 14.62 % 18.67 % $5.51 19.87 % 13.83 % 10.76 % - - 2.03 % 5.25 % $5.80 16.47 % 15.27 % 9.86 % - - 12.40 % 16.61 % $6.76 15.31 % 16.31 % 12.17 % - - 27.25 % 31.69 % $8.90 20.37 % 17.55 % 16.61 % 11.55 % - − 6.56 % − 3.10 % $8.63 13.20 % 13.93 % 13.94 % 11.16 % - 1991 26.31 % 30.47 % $11.26 15.36 % 17.59 % 14.34 % 11.90 % - 4.46 % 7.62 % $12.11 15.88 % 16.17 % 15.47 % 11.34 % - 7.06 % 10.08 % $13.33 14.55 % 14.93 % 15.72 % 12.76 % - − 1.54 % 1.32 % $13.51 8.70 % 14.38 % 14.52 % 14.58 % 10.98 % 1995 34.11 % 37.58 % $18.59 16.59 % 14.88 % 14.81 % 14.60 % 12.22 % 20.26 % 22.96 % $22.86 15.22 % 15.29 % 16.80 % 14.56 % 12.55 % 31.01 % 33.36 % $30.48 20.27 % 18.05 % 17.52 % 16.65 % 13.07 % 1998 26.67 % 28.58 % $39.19 24.06 % 19.21 % 17.90 % 17.75 % 14.94 % 1999 19.53 % 21.04 % $47.44 28.56 % 18.21 % 18.93 % 17.88 % 17.25 % 2000 − 10.14 % − 9.10 % $43.12 18.33 % 17.46 % 16.02 % 15.68 % 15.34 % − 13.04 % − 11.89 % $37.99 10.70 % 12.94 % 13.74 % 15.24 % 13.78 % 2002 − 23.37 % − 22.10 % $29.60 − 0.59 % 9.34 % 11.48 % 12.71 % 12.98 % 2003 26.38 % 28.68 % $38.09 − 0.57 % 11.07 % 12.22 % 12.98 % 13.84 % 8.99 % 10.88 % $42.23 − 2.30 % 12.07 % 10.94 % 13.22 % 13.54 % 2005 3.00 % 4.91 % $44.30 0.54 % 9.07 % 11.52 % 11.94 % 12.48 % 2006 13.62 % 15.79 % $51.30 6.19 % 8.42 % 10.64 % 11.80 % 13.37 % 2007 3.53 % 5.49 % $54.12 12.83 % 5.91 % 10.49 % 11.82 % 12.73 % 2008 − 38.49 % − 37.00 % $34.09 − 2.19 % − 1.38 % 6.46 % 8.43 % 9.77 % 2009 23.45 % 26.46 % $43.11 0.42 % − 0.95 % 8.04 % 8.21 % 10.54 % 12.78 % 15.06 % $49.61 2.29 % 1.41 % 6.76 % 9.14 % 9.94 % 2011 - 0.00 % 2.11 % $50.65 − 0.25 % 2.92 % 5.45 % 7.81 % 9.28 % 2012 13.41 % 16.00 % $58.76 1.66 % 7.10 % 4.47 % 8.22 % 9.71 % 2013 29.60 % 32.39 % $77.79 17.94 % 7.40 % 4.68 % 9.22 % 10.26 % 2014 11.39 % 13.69 % $88.44 15.45 % 7.67 % 4.24 % 9.85 % 9.62 % 2015 − 0.73 % 1.38 % $89.66 12.57 % 7.30 % 5.00 % 8.19 % 9.82 % 2016 9.54 % 11.96 % $100.38 14.66 % 6.94 % 6.69 % 7.68 % 9.15 % High 34.11 % 37.58 % $100.38 28.56 % 19.21 % 18.93 % 17.88 % 17.25 % Low − 38.49 % − 37.00 % $0.89 − 2.35 % − 1.38 % 4.24 % 7.68 % 9.15 % Median 11.39 % 14.31 % $13.33 13.96 % 11.57 % 11.48 % 11.86 % 12.48 % Year Change in Index Total Annual Return Including Dividends Value of $1.00 Invested on 1970 ‐ 01 ‐ 01 5 Year Annualized Return 10 Year Annualized Return 15 Year Annualized Return 20 Year Annualized Return 25 Year Annualized Return See also Conference Board Leading Economic Index Dow Jones Industrial Average List of S&P 500 companies E-mini S&P Exchange - traded fund Fortune 500 FTSE 100 Index fund Russell 1000 Index S&P 100 S&P 400 S&P 500 Dividend Aristocrats S&P 600 S&P 1500 Standard & Poor 's Wilshire 5000 References Jump up ^ `` S&P 500 factsheet '' ( PDF ). Standard & Poor 's. Retrieved January 20, 2013. ^ Jump up to : `` S&P 500 Overview ''. S&P / Dow Jones Indices LLC. Retrieved January 20, 2013. Jump up ^ https://www.spice-indices.com/idpfiles/spice-assets/resources/public/documents/103766_multidiscovery1.pdf Jump up ^ http://us.spindices.com/idsenhancedfactsheet/file.pdf?calcFrequency=M&force_download=true&hostIdentifier=48190c8c-42c4-46af-8d1a-0cd5db894797&indexId=340 ^ Jump up to : `` S&P U.S. Indices Methodology '' ( PDF ). Standard & Poor 's. Retrieved May 14, 2016. Jump up ^ Reklaitis, Victor. `` The S&P is up 9 % this month, but these 10 stocks jumped more than 22 % ''. marketwatch.com. Jump up ^ DailyFX. `` The S&P is Flat for the Year, and that Usually Leads to Huge Moves ''. dailyfx.com. Jump up ^ `` Standard & Poor 's 500 Index -- S&P 500 ''. Investopedia. Retrieved June 11, 2012. 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Jump up ^ Adam Shell, USA TODAY ( December 31, 2013 ). `` Stock market ends 2013 on a new `` high '' note ``. USA TODAY. Retrieved May 27, 2015. Jump up ^ `` S&P 500 ends at record on housing, HP ; transports fly ''. Jump up ^ `` S&P 500 closes above 2,000 for first time -- Southtown Star ''. Jump up ^ `` Stocks Consolidate as S&P 500 Reaches New High ''. Jump up ^ Stock Market News for December 30, 2014 Zacks Jump up ^ U.S. stocks finish solid year on a down note MarketWatch Jump up ^ `` S&P, edge down with Apple ; Dow ends at record high ''. Jump up ^ Reuters ( July 11, 2016 ). Strong economy, earnings bets propel S&P 500 to record high. Jump up ^ https://www.wsj.com/articles/global-markets-china-stocks-fall-as-deal-makers-borrowing-probed-1498187415 Jump up ^ `` S&P -- Indices > Equity Indices -- S&P 500 -- Index Table ''. standardandpoors.com. Jump up ^ `` Description ''. standardandpoors.com. Jump up ^ `` Standard & Poor 's Announces Changes to U.S. Investable Weight Factors and Final Float Transition Schedule ''. PRNewswire. March 9, 2005. Retrieved January 20, 2013. Jump up ^ MarketCapitalizations.com `` Changes in S&P 500 components during the past ten years '', March 25, 2015. ^ Jump up to : `` S&P Indices Index Mathematics Methodology '' ( PDF ). The McGraw - Hill Companies, Inc. Retrieved January 20, 2013. Jump up ^ http://www.spindices.com/documents/index-policies/methodology-index-math.pdf S&P Dow Jones Index Mathematics Methodology ( March 2014 ) PG. 6 Jump up ^ `` S&P 500 Details ''. Standard & Poor 's. Retrieved January 20, 2013. Jump up ^ `` How is the value of the S&P 500 calculated ? ''. Retrieved January 20, 2013. Jump up ^ `` S&P Indices '' ( PDF ). Jump up ^ `` Investopedia Vanguard Profile ''. ^ Jump up to : Park, JeeYeon. `` Record - Smashing Quarter : S&P 500 Ends Above 2007 's Record Close, Dow Posts Best Q1 Since 1998 ''. CNBC.com Writer. Retrieved March 28, 2013. Jump up ^ `` CPI Inflation Calculator ''. Retrieved September 13, 2015. Jump up ^ `` CPI Inflation Calculator ''. Retrieved September 13, 2015. External links Official website Yahoo ! Finance page for ^ GSPC Reuters page for. SPX CNN Money page for SPX Bloomberg page for SPX : IND Interactive Historical Chart of the S&P 500 Since 1927 Historical total market capitalization of S&P 500 index Major United States stock market indices Dow Jones Industrial Average ( 30 large stocks ; popular indicator ) NYSE Composite Index ( all companies on the NYSE ) Nasdaq Composite Index ( all companies on the NASDAQ ; technology - heavy ) NASDAQ - 100 Index ( 100 large NASDAQ non-financial stocks ) S&P 500 Index ( 500 large companies ; general market analysis ) Russell 2000 Index ( small - cap stocks ) Wilshire 5000 Index ( total U.S. market ) Retrieved from `` https://en.wikipedia.org/w/index.php?title=S%26P_500_Index&oldid=800027566 '' Categories : S&P Dow Jones Indices 1957 introductions American stock market indices Hidden categories : Use mdy dates from December 2016 Articles needing cleanup from August 2015 All pages needing cleanup Cleanup tagged articles with a reason field from August 2015 Wikipedia pages needing cleanup from August 2015 Articles needing additional references from September 2013 All articles needing additional references All articles with unsourced statements Articles with unsourced statements from September 2016 Articles needing additional references from August 2012 Official website different in Wikidata and Wikipedia Talk Contents About Wikipedia Български Boarisch Bosanski Català Dansk Deutsch Eesti Español فارسی Français 한국어 Hrvatski Bahasa Indonesia Italiano עברית ಕನ್ನಡ Lietuvių Nederlands 日本 語 Norsk Polski Português Română Русский Саха тыла Српски / srpski Srpskohrvatski / српскохрватски Suomi Svenska Türkçe Українська Tiếng Việt 粵語 中文 Edit links This page was last edited on 11 September 2017, at 05 : 38. 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Question: what is the standard and poor's 500 index
Answer: stock market index