economy
Dow set to add Alphabet, drop Verizon
Alphabet's inclusion in the blue chip index is symbolic of AI's increasing pervasiveness in both the stock market and the economy.
TL;DR
- The Dow Jones Industrial Average is adding Alphabet (Google's parent company) and dropping Verizon.
- This change is symbolic of Artificial Intelligence's growing influence in the stock market and economy.
- Alphabet is described as an AI infrastructure company.
- The Dow is a price-weighted index, meaning stocks with higher prices have more influence, not market capitalization.
- The Dow was established in 1896 to track industrial companies involved in physical goods.