Monte Raccusin
Dell Technologies (NYSE: Dell) and Palantir Technologies (NYSE:PLTR) will join the S&P 500 (SP500) later this month, and the pending moves sent shares of each company higher late Friday.
Dell will replace e-commerce site Etsy (NASDAQ:ETSY) in US stocks Market standard, Palantir will replace American Airlines Group (NASDAQ:ALS&P Dow Jones Indices said in a statement on its quarterly rebalancing. Erie Indemnity (NASDAQ: ERI) will also enter the index, replacing Bio-Rad Laboratories (NYSE: Pew).
Dell Inc. (DELL) shares rose 6.9% in after-hours trading, enterprise software company Palantir Inc. (PLTR) rose 7% and Erie Inc. (ERIE) rose 3.2%.
The index changes will take effect before the open of trading on Monday, September 23, to coincide with the quarterly rebalancing.
Etsy (ETSY) shares fell 1.1% late Friday, American Airlines (AAL) lost 0.6% and Bio-Rad (BIO) lost 1.6%.
Etsy (ETSY) will replace Haverty Furniture Cos. (NYSE:HVT) in the S&P SmallCap 600 Index (SP600). American Airlines (AAL) will replace broadcaster Tegna (New York Stock Exchange: Tighna) in the S&P MidCap 400 Index (SP400). Bio-Rad Inc. (BIO) will replace Erie Inc. in the S&P MidCap 400 Index (SP400).
ETFs that track the S&P 500 include: (SPY), (VOO), (IVV), (RSP), (SSO), (UPRO), (SH), (SDS), and (SPXU).