[Berman:] Welcome back to EARLY START, everyone. It is "Money Time" which means Christine Romans is here.
[Christine Romans, Cnn Chief Business Correspondent:] I know. 16k on the Dow, 1,800 on the S&P;, hit it, didn't hold it, couldn't hold it. You know, the Dow has all managed another record close. The NASDAQ and the S&P; were both lower on the day, actually. Look, you know, it was a little bit of a caution sign. I want to show you the numbers, though. We got as high as 16,030 and the S&P; reached 18,002, just could not hold that level there. So, what does Dow 16,000 mean for you? Everyone is asking this. What does it mean, Dow 16,000? Here's one expert on that.
[Doug Hirschhorn, Author, "trying Psychology Playbook":] It's a classic example of emotions overtaking rational decision making and thinking about the numbers and the fundamentals as opposed to just some number which is a great number and cool and interesting and round, but it really has no relevance as far as or shouldn't have relevance as far as how you make your decisions.
[Romans:] Yes. So, you know, your life doesn't change at 16,000 and your investment strategy shouldn't either. That's what the trading psychology experts like that guy say. So, here's why it does matter. It matters because this year, it has been an amazing run to 16,000. The Dow is up 22 percent. The NASDAQ up 31 percent. The S&P; 500 up 26 percent. Check your allocations that you have your stock bonds, cash in the right mixture for your age and goals. That's what
[Berman:] Why are you looking at me? What do you know?
[Romans:] But you know, I mean, these big round numbers an important time to take a look at your strategy. All right. This is historic. The biggest fine ever for a single company to pay is likely going to be announced today. We've been telling you about this. It's in the works. JPMorgan Chase and the justice department agreeing on a landmark $13 billion settlement over the bank's mortgage practices and lead up to the financial crisis. Now, this agreement helps JPMorgan's CEO, Jamie Dimon, put a whole host of state and federal investigations behind this company. It also includes a big portion, $4 billion that's supposed to go directly to struggling homeowners. Of that amount, at least, 1.5 billion is going to go to reduce loan payments for homeowners with mortgages under water, meaning that, you know, they've got what they owe on the house is more than the house is worth. Up to $500 million is going to pay for a partial loan forgiveness. They have a $2 billion could be used in part to fund new loans for low income buyers. So, watch the space and we will, of course, be watching very closely to make sure that money is getting to homeowners. That's been one of the complaints of some of mortgage settlements we've seen before. Some homeowners are completely out of the game. They're not even in the house anymore, you know? And they really got hurt along the way. Fresh or frozen for turkey?
[Sambolin:] I'm doing fresh this year, but I've done both.
[Romans:] I know. I'm going to doing fresh, I think, too. You might have a tough time finding a fresh
[Sambolin:] I ordered mine
[Romans:] Did you.
[Sambolin:] Sure did.
[Romans:] Butterball says it's going to have plenty of large frozen turkeys, but it's only going to be shifting about half as many of the large fresh never frozen turkeys to the supermarkets this year. It seems like they just couldn't get fat enough over the summer which seems like a tough problem they have which is couldn't get fat enough this summer. So, they didn't have enough really fresh turkeys.
[Berman:] The exercise reaching down
[Sambolin:] Make sure you order early. The moral of that story, you buy early rather so that
[Romans:] Yes. I'm going to do a farmer's market. I'm going to get like a jersey bird, I think.
[Sambolin:] Cool.
[Berman:] Well done. Keep it local.