Alphabet shares rise on Dow debut, Verizon falls after index exit
Yahoo Finance ·
Proactive financial news and online broadcast teams provide fast, accessible, informative and actionable business and finance news content to a global investment audience. All our content is produced independently by our experienced and qualified teams of news journalists. Proactive news team spans the world’s key finance and investing hubs with bureaus and studios in London, New York, Toronto, Vancouver, Sydney and Perth. We are experts in medium and small-cap markets, we also keep our community up to date with blue-chip companies, commodities and broader investment stories. This is content that excites and engages motivated private investors. The team delivers news and unique insights across the market including but not confined to: biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto and emerging digital and EV technologies. Proactive has always been a forward looking and enthusiastic technology adopter. Our human content creators are equipped with many decades of valuable expertise and experience. The team also has access to and use technologies to assist and enhance workflows. Proactive will on occasion use automation and software tools, including generative AI. Nevertheless, all content published by Proactive is edited and authored by humans, in line with best practice in regard to content production and search engine optimisation. Alphabet Inc (NASDAQ:GOOG) shares climbed about 5% on Monday after the company officially joined the Dow Jones Industrial Average, replacing Verizon Communications Inc (NYSE:VZ, XETRA:BAC) in a change that reflects the index's increasing exposure to large-cap technology and artificial intelligence companies. The change took effect before the opening bell, with Alphabet becoming the latest technology heavyweight in the 30-stock benchmark alongside Apple, Amazon, Microsoft and Nvidia. Verizon, meanwhile, fell about 6% after being removed from the Dow following a 22-year presence in the blue-chip index. The reshuffle marks another shift in the composition of the Dow, which is periodically adjusted to better reflect changes in the US economy and stock market. Alphabet's addition increases the benchmark's representation of technology and AI-related companies, while Verizon's removal reduces its exposure to the telecommunications sector. The Dow Jones Industrial Average is maintained by S&P Dow Jones Indices, which periodically updates its constituents to ensure the index continues to represent leading US companies across major industries.
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