Wednesday, September 11, 2013
Dow 30 adds Nike Goldman and Visa, and drops HP BofA and Alcoa
Dow Jones is adding Nike, Goldman and Visa to the Industrial Average, and dropping Hewlett-Packard, Bank of America and Alcoa. They are adding youth and dropping the old guard. Young people wear Nikes and use Visa to purchase them. Goldman may be wily but smart and cool. HP makes money on ink; the B of A can't get over its past mistakes; and Alcoa? Well, aluminum stopped being cool when people started drinking bottled water - about 20 years ago? The inclusion in the Dow should not have any effect on the index, but the included stock will make their way into some passive portfolios tied to the Dow index.