Wednesday will bring investors another full slate of earnings, continued drama around Trump’s pick to lead the Federal Reserve, and more discussion about tax reform.

Yahoo Finance will also host its second All Markets Summit on Wednesday, an all-day event featuring interviews with some of the top names in markets and beyond.

Featured speakers include media titan Barry Diller (IAC), famed investor Mario Gabelli, Mark Bertolini, CEO of Aetna (AET), Gary Bettman, the commissioner of the NHL, and more. The event will be streamed all day on Yahoo Finance and we will of course have full reports of all the news made during the day.

On the earnings calendar, highlights will include results from Visa (V), Coca-Cola (KO), General Dynamics (GD), Boeing (BA), Dr Pepper Snapple (DPS), Nasdaq (NDAQ), and Hess (HES) among others.

The economic calendar will feature the August reading on home prices from the FHFA and the September numbers on new home sales. The week’s economic highlight is due out Friday with the first release of third quarter GDP.

Investors will also keep and eye on shares of Chipotle (CMG), which were sliding in after hours trade on Tuesday after reporting earnings that disappointed.

Trump loves the Dow

President Donald Trump loves talking about the stock market.

And in particular, the Dow.

The blue chip index, comprised of 30 stocks that Dow Jones says are a “microcosm of the U.S. stock market.” And while an index of Apple (AAPL), Nike (NKE), American Express (AXP), McDonald’s (MCD), Home Depot (HD), and UnitedHealth (UNH) certainly captures some of the major elements of American commerce today, the index has some other flaws that drive investors crazy.

Most notably is that the index is “price weighted,” which means the index’s price level changes based on changes in the stock price of its members. (To be specific, each $1 move in the share price of a company in the Dow accounts for about 6.88 points of movement in the index.)

And given that the price of a company’s stock does not, strictly speaking, have anything to do with the value of company — the number of shares outstanding, and thus the earnings power the company has per share is its value as a stock — short-term price movements are more decorative than fundamental.

That the Dow has 30 members, regardless of which stocks are members or not, is also a strike against investors who are often seeking a broader benchmark against which to track their performance than something that can be swung as sharply as the Dow by just a few members.

But this does not take away from the fact that, for all of its flaws, the Dow is the “people’s index.” Which is to say, when people talk about “the stock market” they are most often talking about the Dow.

Perhaps it’s because the Dow has the biggest number — 23,441 was the index’s closing level on Tuesday against 2,569 for the S&P 500 — that non-investors see the Dow as “the stock market.”

The index is also called the “blue chip” index which, to a non-investor, seems more important than an index being “the benchmark,” which is how the S&P 500 is often described.

And either way, there is something about the Dow — 30 big American companies all in one place — that has some good old fashioned American myth-making about it. And so it sticks.

And whether you like Trump’s policies and his bombast or not, he has long known how to find popular themes and hit on them. Again and again.

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Myles Udland is a writer at Yahoo Finance. Follow him on Twitter @MylesUdland

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