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Alphabet Joins Dow Jones, Replaces Verizon; Shares Rise 3.7% to $350.24 on June 29

2026-06-30 01:49:20

US30-0.14%

According to Reuters, Alphabet shares rose 3.7% to $350.24 on June 29 after the Google parent joined the Dow Jones Industrial Average, replacing Verizon Communications. S&P Dow Jones Indices announced the change on June 23 to broaden the index's exposure to AI, cloud computing, digital advertising, and healthcare technology. The shift lifts the number of Magnificent Seven companies in the benchmark to five. Verizon shares fell 7.8% to $42.03 following the announcement and broader weakness in telecom stocks.

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