Amazon To Be Added To The Dow Jones Industrial Average
Credit: MGN
NEW YORK (AP) — Amazon.com is being added to the Dow Jones Industrial Average, joining Apple, Walt Disney, Walmart and other companies that make up the 30-stock average.
The e-commerce giant will replace drugstore operator Walgreens Boots Alliance in the Dow before the open of trading on Monday, S&P Dow Jones Indices said Tuesday.
The shift was prompted by Walmart’s decision to do a 3-to-1 stock split, which will reduce its stock’s weighting in the index.
The Dow is a price-weighted index, so stocks that fetch higher prices are given more weight.
Meanwhile, ride-sharing service Uber Technologies will be added to the Dow Jones Transportation Average, replacing JetBlue Airways.
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