Amazon and Uber to Join Dow Jones Indexes, Replacing Walgreens and JetBlue
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Amazon will join the Dow Jones Industrial Average stock index, replacing Walgreens. This increases the Dow's exposure to consumer retail and tech.
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The change was prompted by Walmart's decision to split its stock 3-to-1, which would have reduced its weighting in the Dow.
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Amazon will be the 3rd tech giant, after Apple and Microsoft, to join the Dow. Its addition reflects the market dominance of big tech.
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Uber will join the Dow Jones Transportation Average index, replacing JetBlue Airways. This gives exposure to the ride-sharing industry.
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The index changes take effect Monday, when Walmart's stock split occurs. Amazon and Uber shares rose slightly in after-hours trading on the news.