Amazon.com Inc. is ready to hitch the Dow Jones Industrial Average in every week, a transfer meant to mirror “the evolving nature of the American economy,” S&P Dow Jones Indices mentioned late Tuesday.
Amazon
AMZN,
replaces Walgreens Boots Alliance Inc.
WBA,
within the Dow Jones
DJIA.
The change was prompted by Walmart Inc.’s
WMT,
3-to-1 inventory cut up.
“Reflecting the evolving nature of the American economy, this change will increase consumer retail exposure as well as other business areas in the DJIA,” S&P Dow Jones mentioned.
Don’t miss: The Dow is due for a change. These sectors could also be affected.
Walmart introduced its inventory cut up late final month. The retail large will stay within the DJIA, the index supplier mentioned.
Amazon’s inventory rose 1.3% in after-hours buying and selling following the news, whereas shares of Walgreens dropped 3%.
S&P Dow Jones additionally mentioned that Uber Technologies Inc.
UBER,
will exchange JetBlue Airways Corp.
JBLU,
within the Dow Jones Transportation Average
DJT.
Both index modifications are scheduled to take impact earlier than the bell on Feb. 26.
The change “will help the index gain exposure to the ride-sharing industry,” S&P Dow Jones mentioned. The index change was prompted by JetBlue’s “low weight in the index of less than one-half of one percentage point caused by its low share price.” The Dow Jones Transportation Average is a price-weighted index.
JetBlue has appealed a courtroom ruling nixing its merger with Spirit Airlines Inc.
SAVE,
because it vies for a slice of the ultra-low-cost airline business and home leisure journey, and it’s additionally interesting a choice blocking its regional alliance with American Airlines Group Inc
AAL,
See additionally: Carl Icahn lands two JetBlue board seats days after disclosing stake in airline
Source web site: www.marketwatch.com
