Alphabet joining Dow Jones June 29 in S&P Global shakeup
Alphabet (yes, Google's parent company) is set to join the Dow Jones Industrial Average (DJIA) on Monday, June 29.
This shakeup is S&P Global's way of making the iconic stock index more tech-focused and in tune with today's digital economy.
Alphabet will now join big names like Apple, Amazon, NVIDIA, Microsoft, Salesforce, Cisco, and IBM in this elite club.
Alphabet replaces Verizon, GOOG only
Alphabet will replace Verizon in the DJIA, a spot Verizon held since 1984, highlighting how tech companies are taking over from traditional telecommunications companies in major indexes.
Only Alphabet's Class A shares (GOOGL) are being added; Class C shares are not included.
While it is a big moment for Google fans and Wall Street watchers alike, experts note that most investment money still tracks the S&P 500 rather than the Dow.