7:15pm (EST)
 
We know it has been a tough market and evidence of the volatility remained today as the market gave back most of its gains.  We will have an in-depth view in the morning but we got some great news after the bell.
 
The S&P will add Berkshire Hathaway (BRK/B, $68.00, down $0.84) to both its S&P 100 and S&P 500 indexes after Berkshire acquires Burlington Northern Santa Fe.
The acquisition should close next month.
 
We brought you the news when Berkshire announced the 50-for-1 split of the company’s Class B stock last week and told you there would be buying.  What this really means, folks, is that all of the mutual fund managers have to buy the stock for their portfolios. 
 
The stock split gave Warren Buffett’s company enough liquidity to meet S&P’s criteria and a spokesman said the company “is a good fit in the indexes” because it “represents the U.S. economy and stock market well”.
 
Drum-roll, please…….Berkshire shares are up 9% to $73.40 in after-hours trading.
 
We will be back in the morning with a full update.

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