Dow average adds Goldman Sachs, Nike and Visa - MyFoxAustin.com | KTBC Fox 7 | News, Weather, Sports

Dow average adds Goldman Sachs, Nike and Visa

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By The Associated Press

The Dow Jones industrial average is swapping Bank of America for Goldman Sachs and also replacing Hewlett-Packard and Alcoa in a six-company shake up of the most widely known barometer of the U.S. stock market.

S&P Down Jones Indices says it will replace HP with Visa and Alcoa with sneaker maker Nike in the first three-for-three change to the index since April 8, 2004. 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.

AP-WF-09-10-13 1311GMT

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