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

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Submitted: Tue, 09/10/2013 - 1:08pm
Updated: Tue, 09/10/2013 - 1:10pm

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.

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  • taxpayer says:

    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.

  • Guest Reply Redux says:

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

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