The dominance of technology companies has eclipsed every other story in 2020’s pandemic-upended stock market. Now it’s helping speed changes to the world’s most famous equity benchmark.
In the biggest reshuffling in seven years, Exxon Mobil Corp, Pfizer and Raytheon Technologies Corp. were kicked out of the Dow Jones Industrial Average, making way for Salesforce.com, Amgen Inc. and Honeywell International to enter the 124-year old equity gauge a week from today. The actions were prompted when Apple — currently 12 per cent of the 30-stock index — announced a stock split that reduced the sway of computer and software companies in the price-weighted average.
