The online retail powerhouse will be included in the venerable Dow Jones Industrial Average at the start of trading Monday, replacing Walgreens Boots Alliance. S&P Dow Jones Indices, which manages the 30-stock benchmark, said the changes were prompted by Walmart’s 3-for-1 stock split, which is also effective next week. A committee composed of representatives of S&P Dow Jones Indices and The Wall Street Journal determines the composition of the index. UnitedHealth currently makes up about 9% of the index, according to Dow Jones Market Data. Charles Dow, the first editor of The Wall Street Journal and co-founder of Dow Jones & Co., the publisher of the Journal, created the Dow average to help explain stock-market movements to his readers.

Source: Wall Street Journal February 21, 2024 06:55 UTC