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 makeup of the price-weighted benchmark, which has seen periodic rebalancing to reflect changing market dynamics.
The addition of Alphabet, the parent company of Google, underscores the continued dominance of technology giants in major US equity indices.
Verizon, which has been a component of the Dow for decades, is being removed as part of this rare reshuffle.
The change highlights the evolving nature of the index, which aims to maintain relevance by incorporating companies that represent the current economic landscape.