Alphabet Joins The Dow Jones Industrial Average
Starting this morning, Alphabet will replace Verizon Communications in the Dow Jones Industrial Average. The index change hasn't gotten much media attention, but it sends a loud message about the economy. The change makes Alphabet one of just 30 companies that Dow Jones & Company deems representative of the US industrial landscape. Verizon, which was once a cornerstone of the American infrastructure, is no longer worthy of such esteem in the opinion of Dow Jones & Company. The Dow's composition has always been a lagging indicator of where economic power resides. For example, they…
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