Alphabet Stock Joins the Dow but It’s Rising for a Different Reason

The shares were up 1.2% in premarket trading. The Google-parent is replacing Verizon Communications in the 30-stock Dow index from Monday’s session, in a move announced last week. Because the Dow is a price-weighted index—meaning stock price rather than market capitalization determine the weighting of each company—few funds choose to replicate its composition.