Alphabet Inc. is set to join the Dow Jones Industrial Average, replacing telecommunications giant Verizon Communications in the iconic index.
S&P Global announced the composition change on Tuesday, confirming that the swap will take effect at the opening bell on Monday, July 6.
The move marks another significant shift in the index's makeup, as S&P Global continues to adjust the 30-stock average to better reflect the current economic landscape.
For proponents of the change, adding Alphabet helps the Dow Jones mirror the reality perceived by investors today, where technology and digital services play an increasingly dominant role.
Verizon, a long-standing component of the index, will be removed as part of this rebalancing.
The decision underscores the ongoing evolution of the Dow Jones, which has historically struggled to keep pace with the rapid growth of the tech sector compared to broader market indices like the S&P 500.