 The Russell indices are getting scrambled on Friday, which could spark some volatility in the markets. Here now is John Eade, president of Argus Research. So John, some stocks will be getting switched between the Russell 1000 and 2000 index. In your experience, what does this mean for a trading day like this in terms of volatility and also for the coming trading sessions? Well, Scott, it's not really a fundamental development in the market, right? It's just sort of shifting stocks in and out of indexes, but because so many people have moved toward passive investment, it's a very important day. So for the day traders, find out which stocks are moving, right, from the 1000 to the 2000 to the 2000 to the 1000, and those are going to be buys and sells really for the next week or two. For the average investor, look to see how the Russell 1000 shakes out with industry diversification because you may need to shift your portfolio to overweight or underweight depending on how the sectors lay out. And also for contrarians, you know, I think a lot of energy stocks are going to be moving from the 1000 to the 2000 because energy is done so poorly, but that might be a buying opportunity when everybody's getting out of energy to get in if you think the price of oil is going to be moving higher into next year. Yeah, well, what a week for oil. I mean, oil prices crashed. They've now been sort of stabilizing, but how does that change your broader market outlook, your broader investment thesis for the coming months? Well, the thing about oil and the price movements, you know, it's supply or demand. I don't think this is a demand outcome. So that's good. Right. I think China is still growing, India is growing, Brazil is growing again. What we've seen is when oil came up to $50 a barrel, all the U.S. E&P companies increased production for really the first time in several quarters. So you've got more supply out. And I think that'll balance out. I see us in the low 50s by, you know, the end of the year and into 2018. So then what does that mean for the markets? Because the markets have kind of been shrugging off these declines in oil prices. Are we going to stay in this range bound area or are we just waiting for the next catalyst in the coming months? Well, I think the range is going to be, you know, maybe 45 to 60 out through 2018. Probably 45 to maybe 52 or 53 in 2017. And again, that's with the emerging economies, you know, coming back online with Europe growing again. So you've got that demand and OPEC, you know, not wanting to increase the supply to kind of keep the prices where they are. But I think that's the range. And it's interesting, though, to see stocks barely respond to these declines, because we finally saw stocks respond to policy developments in the Trump Organization. We saw shares of Etna, Humana, and Cigna gain steam after the Senate unveiled details about its health bill. So we're finally starting to see stocks wake up to some policy developments. Right. And I think a lot of investors have been waiting quite a while for some, you know, concrete developments, some real, you know, nails to hang your hat on out of Washington, D.C. Now with the House's plan and now the Senate's plan, I think we're getting there. So you know, that may lift some of the murkiness away from the health care area and investors will go in. And I think you'll see the same when the tax policy becomes more final and the infrastructure spending. There's that kind of move in the market waiting for those type of details. Yeah. And despite all the headwinds, the Trump Administration remains bullish on the, you know, three-pronged policy. They have tax reform, health care, and infrastructure. It'll be interesting to watch how that plays out. It sure will, Scott. All right. Johnny, thanks so much for coming back with us. Okay. Thank you. All right. I'm Scott Gamm and you're watching The Street.