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Dow average drops NC-based Bank of America, adds Goldman Sachs, Nike and Visa


The Dow Jones industrial average is swapping Bank of America for Goldman Sachs and also replacing Hewlett-Packard and Alcoa in a six-company shake up of the most widely known barometer of the US stock market.

S&P Down Jones Indices says it will replace HP with Visa and Alcoa with sneaker maker Nike in the first three-for-three change to the index since April 8, 2004. The changes will become effective at the start of trading Sept. 23.

S&P Dow Indices manages the average and says the changes won't disrupt the level of the index. It says a push to diversify the sector and industry group representation of the index helped prompt the changes.

The Dow is made up of 30 stocks. A small committee decides which companies are added or dropped.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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By dropping B of A...

all they did was substitute one sleaze-ball company for another. But in the end, the Dow has little impact on folks' retirement accounts. The performance of the S & P, on the other hand, factors heavily into how your account performs based upon your allocation.

Sadly, the lamestream media likes to focus on how the Dow did each and every day.

Bank of America?

Q: Now who would drop B.O.A.???
A: The World!