Dow average adds Nike - KPTV - FOX 12

Dow average adds Nike

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Oregon-based Nike is being added to the Dow Jones industrial average in a six-company shake up of the most widely known barometer of the U.S. stock market.

S&P Dow Jones Indices says it will replace Hewlett Packard with Visa and Alcoa with sneaker maker Nike in the first three-for-three change to the index since April 8, 2004. Bank of America is being swapped out for Goldman Sachs.

The changes will become effective at the start of trading Sept. 23.

S&P Dow Indices manages the average and says the changes won't disrupt the level of the index. It says a push to diversify the sector and industry group representation of the index helped prompt the changes.

The Dow is made up of 30 stocks. A small committee decides which companies are added or dropped.

Copyright 2013 The Associated Press. All rights reserved.

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