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Amazon Joins Dow Jones Industrial Average, Marking Tech Milestone

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3 months ago

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Amazon‘s inclusion in the Dow Jones Industrial Average, a milestone for the tech giant, marks a significant move within the business world. The shake-up involves Amazon replacing Walgreens Boots Alliance Inc., impacting the renowned stock-market barometer.

The Dow, consisting of 30 major companies such as UnitedHealth Group Inc. and Apple Inc., traditionally weighted by share price, underwent adjustments to enhance its relevance and exposure to modern sectors like tech.

While the Dow historically struggled to keep pace with the S&P 500, Amazon’s entry signifies an attempt to bridge the gap. The index has notably lagged, with a recent correlation in the bottom 20% since 1926.

The change is not a guarantee of a rally, as ousted stocks often outperform replacements in the short term. However, Amazon’s addition reflects the Dow’s evolution under S&P Dow Jones Indices and Dow Jones Newswires.

Key entities such as Salesforce Inc., Exxon Mobil Corp., and Uber Technologies Inc. have also seen shifts within the Dow Jones Transportation Average, highlighting ongoing adjustments in the financial landscape.

Ned Davis Research‘s Ed Clissold emphasized the strategic positioning of the Dow amid tech advancements, maintaining relevance to investors while adapting to market dynamics and trends.

Rachel Adams

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