Nvidia will replace rival chipmaker Intel in the Dow Jones Industrial Average, S&P Dow Jones Indices announced late Friday. Sherwin-Williams will step in for Dow Inc.. The changes will take place before the open on Friday, Nov. 8.
Nvidia stock climbed 2.25% Monday morning. Sherwin-Williams gained 4.3%. Intel stock fell 2.7% and Dow Inc. dipped 1.7%.
Separately, Vistra Corp. will replace AES Corp. in the Dow Jones Utility Average on Nov. 8. Vistra, the S&P 500's top performer in 2024, reports earnings next week. VST stock initially edged higher Friday evening but was down 2.5% Monday amid losses in nuclear-related plays.
Meanwhile, Chewy will replace Stericycle in the S&P MidCap 400 before the open on Wednesday, Nov. 6. Waste Management is about to close its Stericycle takeover.
Chewy stock jumped 8% Monday.
Nvidia's Dow Entrance Long-Speculated
Nvidia joining the Dow Jones has been speculated for several months, as the AI chip leader skyrocketed. In June, Nvidia stock split 10-for-1, heightening Dow Jones buzz. The price-weighted Dow doesn't want high-priced stocks that swing the indexes with modest percentage moves.
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