Exxon to exit Dow Jones after more than century
One of the worlds major stock indices is set to undergo some significant changes, with Exxon Mobil, defense firm Raytheon Technologies and drug maker Pfizer on the way out of the 30name index of US blue chip stocks. The trio will be replaced by cloud business software provider Salesforce, and conglomerate Honeywell. Apples fourtoone stock split is one reason the changes are being made, as the index is constructed based on share price rather than market cap, so the change would have dramatically cut the Dows technology exposure. The news broke as the Dow came within touching distance of breaking even in 2020, after adding 1.4 on Monday. Currently, the Dow is down just 0.8 yeartodate.