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#3353776 - 09/10/13 08:50 AM Manipulating the DOW
Crappie Luck Moderator
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Registered: 01/29/03
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Alcoa, Hewlett-Packard and Bank of America to Be Dropped from Dow Industrials


Alcoa Inc., Hewlett-Packard Co. and Bank of America Corp. will be dropped from the Dow Jones Industrial Average next week, in the biggest shake-up of the 30-stock index in almost a decade.

Alcoa, a Dow component for 54 years, will be replaced by athletic gear maker Nike Inc. Payments company Visa Inc. will replace H-P, which joined the index in 1997, and securities firm Goldman Sachs Group Inc. will supplant Bank of America, which spent five years in the blue-chip benchmark.

The changes, which will take effect with the close of trading on Sept. 20, reflect the companies' sliding fortunes and their declining share prices, S&P Dow Jones Indices LLC, the company that oversees the Dow, said in a statement.

http://online.wsj.com/article/SB10001424127887323595004579066683443715254.html
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"To find out who your real rulers are, simply look to those whom you CANNOT criticize..."
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#3353778 - 09/10/13 08:51 AM Re: Manipulating the DOW [Re: Crappie Luck]
Crappie Luck Moderator
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Registered: 01/29/03
Posts: 60384
Loc: Smith Co.

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"Goldman Sachs Group Inc."

Now where have I heard that name before? ;\)
_________________________
"To find out who your real rulers are, simply look to those whom you CANNOT criticize..."
--Voltaire

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#3353865 - 09/10/13 10:24 AM Re: Manipulating the DOW [Re: Crappie Luck]
Wes Parrish
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Registered: 06/12/02
Posts: 18959
Loc: Knoxville-Dover-Union City, TN

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The "Dow" has ALWAYS been in an ongoing state of change ---- this is absolutely nothing new --- and means very little in my opinion.

Keep in mind the Dow is only 30 companies, which are supposed to be the best 30 companies "representative" (of just what I'm no longer sure anyone knows), but again, only 30 companies.

By contrast, a much more meaningful index would be the S&P 500, which is 500 very large U.S. companies.

And in my opinion, an even more meaningful index is the Nasdaq, which is thousands of companies.

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