Sept. 10 - Goldman Sachs, Nike and Visa - with a combined market cap of $270 billion are being added to the Dow Jones Industrial Average later this month. Conway G. Gittens reports.
The Daily Digit at $270 billion is the combined market value of the three stocks joining the Dow Jones Industrial Average. Investment bank Goldman Sachs is in...joined by athletic gear leader Nike...along with credit card and electronic payments company Visa. The so-called blue chip index has been around for over a century and is recognized the world over as a proxy for the U.S. stock market. This is the biggest change for the Dow in about a decade. Since there has historically been only 30 stocks in the Dow, that means three are getting the boot: Bank of America, still limping five years after the financial crisis, is out… So is Hewlett-Packard, as the personal computer era gives way to smartphones and tablets... And aluminum producer Alcoa loses its spot. Changes go into effect as of the opening bell September 23rd.