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Drop in s&p 500 net income. that's according to thomson reuters, and the problem is it also comings as evaluations are the highest level in a decade. the question of course is are the weak earnings already priced in. if the expectations bar has been sufficiently lowered, maybe it will be easier for companies to beat and we might get a positive reaction of the stock price. we'll just have to wait and see. this week we have the major banks and financials, other big blue chips like intel and johnson & johnson and it comes off a good week for the market. last week the dow and s&p were both up 1.7%...

European sovereign debt? yes, absolutely. >> and you go into those big blue chips, getting 3.5% yield versus 1.7 and a ten-year note. would you want to led them a government yield or walmart? >> you've still got people who are under water, but you are seeing happy housing news. part of the happy housing news is mortgage rates. solo, 15-year fixed, lowest level ever, 2.56%. the most popular mortgage rate, the 30-year fixed rate mortgage, 3.35%. sometimes i can't believe these numbers come out of my mouth. >> right. >> you see them, you think am i living in some parallel universe? >> basically f...