Alphabet Adds $168 Billion on Dow Debut as Indexes Shake Off Volatility
Yahoo Finance ·
The Nasdaq Composite ( ^IXIC +1.77% ) rose 1.3% by 11:45 a.m. ET on Monday. The tech-heavy index recovered from a mid-morning sell-off that briefly pushed it down to flat. Meanwhile, the S&P 500 ( ^GSPC +0.99% ) gained 0.7% and the Dow Jones Industrial Average ( ^DJI +0.51% ) added 0.4%. Google parent Alphabet ( GOOG +4.72% ) ( GOOGL +4.49% ) made its Dow debut in style, rising 4% and adding $168 billion in market cap. IT replaced Verizon ( VZ 5.78% ) , which fell 7% on the same news. Ironically, Alphabet created more market value today than Verizon is worth overall. At the same time, Comcast ( CMCSA +6.15% ) jumped 7% on spinoff news. The company will separate its NBCUniversal and Sky operations into a new, publicly traded company by mid-2027. However, the media veteran's big move barely generated a ripple on the cap-weighted indexes.
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