The Dow Jones Industrial Average will see changes before the open on Nov. 8, with Nvidia replacing Intel and Sherwin-Williams stepping in for Dow Inc. According to S&P Dow Jones Indices, these changes were announced late Friday. The moves come ahead of earnings reports from key companies.
Nvidia’s stock rose 2.25% Monday morning, while Sherwin-Williams gained 4.3%. In contrast, Intel’s stock fell 2.7%, and Dow Inc.’s stock dropped 1.7%.
These changes are part of the Dow Jones’ effort to maintain price-weighted averages by avoiding highly volatile stocks with modest percentage moves. Nvidia is set to join the index following its 10-for-1 stock split in June, which had been generating buzz.
The updates will see Nvidia and Sherwin-Williams enter the market before the open on Nov. 8, marking significant changes for the Dow Jones Industrial Average.
Source: https://www.investors.com/news/nvidia-to-join-dow-jones-industrial-average-replacing-intel