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On Monday, the Dow Jones Industrial Average (DJIA) announced some adjustments to the composition of the Dow Jones Industrial Average (DJIA) on August 31.
What happened: Three new entries will be added to update existing actions in the DJIA index.
The cloud computing response provider Salesforce.com Inc. (NYSE: CRM) will update Exxon Mobil Corp. (NYSE: XOM), the biotechnology company Amgen Inc. (NASDAQ: AMGN) will update Pfizer Inc. (NYSE: PFE) and Honeywell International Inc (NYSE: HON) will update Raytheon Technologies Corp. (NYSE: RTX).
The resolution to update 3 inventories in the index came after Apple Inc (NASDAQ: AAPL) declared an inventory division 1:4, which would also take place on August 31.
Why it’s important: the iPhone manufacturer is one of the parts of the DJIA index, and the company’s inventory split resolution can simply decrease the IT industry index weighting of the Global Industry Classification Standard (GICS). With the new additions, Dow Jones hopes to compensate for this relief and business doubling in the index.
And then: to achieve some consistency, new dividers will be used to rebalance the index, the main points of which will be found on the FTP online page (EDX) of the Dow Jones indices on August 28, according to the press release.
Price action: at the time of market close on Monday, the DJIA index rose 1.35% to $28,308.46.
Among the 3 new entrants, Salesforce.com’s shares traded a 3% up to $214.8 in Monday’s session. Amgen’s shares were traded 4% upwards at $245, and Honeywell’s shares rose 3.8% to $165.5.
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