Palantir Technologies, Dell Technologies and Erie Indemnity will join the S&P 500 index before the open on Monday, Sept. 23. S&P Dow Jones Indices announced that late Friday as part of a quarterly rebalancing of the S&P indexes.
Palantir soared to a multiyear high while Dell had a solid gain. Erie stock fell after rising to a record high intraday.
They will replace American Airlines, Etsy and Bio-Rad Laboratories. American Airlines and Bio-Rad Labs will drop from the S&P 500 down to the S&P MidCap 400, while Etsy slides all the way to the S&P SmallCap 600. American rose 3.8% Monday as rival airline stocks were strong performers. Etsy stock fell 1.6% and Bio-Rad lost 2%.
Incoming S&P 500 Stocks Jump
Palantir stock jumped 14.1% to 34.61 Monday, hitting its best levels since early 2021. PLTR stock rose 0.6% to 30.33 on Friday, just retaking the 21-day line after finding support near the 10-week line on Wednesday.
There has been buzz about Palantir, a notable AI software play, joining the S&P 500 throughout 2024.
Dell stock popped 3.8% Monday, but is still below its 200-day line. Shares of the server, PC and storage company and AI play plunged 11.7% last week.
S&P 500 buzz has surrounded Dell stock for much of the year as well.
Erie stock dipped 0.6% Monday after hitting a record high intraday. Shares of the insurance company edged down 0.4% last week to 506.30.
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