DoorDash and Williams-Sonoma to Join S&P 500; Shares Rally
DoorDash, Williams-Sonoma, Expand Energy and TKO Group will join the S&P 500. DoorDash rose 5.6% in premarket trading, while Williams-Sonoma rose 1.9%; Expand Energy rose 1.5%.
The four companies will join Wall Street's most widely followed stock benchmark before the start of trading on Monday, March 24, S&P Dow Jones Indices said in a news release.
They will replace Borgwarner Inc, Teleflex Inc, Celanese Corp and FMC Corp.
Index funds that track the S&P 500 are among the most popular investment tools in the U.S. stock market, and those funds will have to purchase shares of the newly added companies in order to stay aligned with the benchmark's composition.
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