Imagine xom still in there....you would see the dow above 40k!!! What would be the weighing on dow points for such a gain on xom the last 5 years??
(Axios) Bonus: How Walmart ushered Amazon into the Dow Illustration: Sarah Grillo/Axios Actions have consequences — and a slightly weird stock split from Walmart turns out to have finally been the event that caused Amazon to enter the Dow Jones Industrial Average, Felix writes. Why it matters: Two separate stock splits were necessary for Amazon to enter the Dow. Its inclusion now means a bit more representation for mega-caps, although Nvidia, Alphabet, Meta and Berkshire Hathaway are all still missing. How it works: Stocks in the Dow are weighted by their nominal share price, not their market value. When Walmart did its 3-for-1 stock split, I worried that the action didn't "seem to make a lot of sense — especially given that the split is going to significantly dilute Walmart's contribution to the Dow Jones Industrial Average." Turns out, S&P Dow Jones Indices, which administers the Dow, had the same worry. To maintain a sensible level of consumer retail in the average, they needed another stock alongside Walmart. Helpfully, Amazon had done its own stock split back in 2022. Before then, its shares were trading at almost $3,000 each, effectively making the company ineligible for the Dow. Now, however, Amazon shares are trading at about $175 apiece, which is well within the Dow range. (UnitedHealth Group, also in the Dow, trades for more than $500 per share.) The bottom line: {The Dow is silly.} {That}