Amazon joining the Dow

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Market Overview
Read time 1.6 minutes

Year To Date Performances:

1. Amazon is set to join the Dow Jones Industrial Average, replacing Walgreens Boots Alliance, according to S&P Dow Jones Indices. This adjustment, effective from February 26, aims to reflect the changing landscape of the American economy by enhancing consumer retail exposure among other sectors within the Dow. The move, partially influenced by Walmart's 3-for-1 stock split, will likely increase Amazon's visibility to investors of the Dow, which, although smaller than the S&P 500 index, remains a significant measure of stock market performance. Amazon, under Andy Jassy's leadership since 2021, has diversified far beyond its initial online retail roots, especially with its leading cloud business segment and growing advertising business, which recently outpaced growth at other tech giants like Alphabet, Meta, and Microsoft. This inclusion marks a significant milestone for Amazon, coming three years after Salesforce's addition to the Dow, and sees Walgreens exit the Dow since its inclusion in 2018, replacing GE.

2. Walmart has announced the acquisition of TV manufacturer Vizio for $2.3 billion, aiming to boost its advertising business alongside its fourth-quarter earnings report. The news, which followed speculations about the deal, caused Vizio's stock to jump by 15% in pre-market trading. By integrating Vizio's SmartCast Operating System, Walmart plans to expand its advertising revenue through streaming content. This acquisition is a strategic move to enhance Walmart's Walmart Connect media segment, positioning it as a competitor against Amazon's advertising venture. With access to Vizio's 18 million active SmartCast accounts, Walmart is set to increase its advertising reach and foster innovation in the TV and home entertainment sectors. Additionally, Walmart reported a 6% revenue increase in the last quarter, attributed to robust holiday sales and the growth of its e-commerce operations.

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4. Headlines

   1. The top 10 companies in the S&P 500 now account for 33% of the total index, the highest since 1973.

   2. Nikki Haley promised to continue running against Trump until Super Tuesday on March 5th.

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