Dow Jones Index Gets a Makeover

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The Dow Jones industrial average, an index of 30 stocks used as a measure of the stock market’s overall status, is swapping out Bank of America, Hewlett-Packard, and aluminum-producer Alcoa.

In their place, the small committee that determines the composition of the index is adding Goldman Sachs, Visa, and Nike. The S&P Dow Jones Indices, which manages the index, says the makeover is part of an effort to diversify the industries represented.

The changes, the first six-company swap since 2004, will be effective Sept. 23.

[AP]
Read more: http://business.time.com/2013/09/10/dow-average-adds-goldman-sachs-nike-and-visa/#ixzz2eV8OvwnP