Amazon joins 29 other ‘blue chip’ companies in the Dow Jones Industrial Average

By ALEX VEIGA
AP Business Writer

Amazon.com is joining the ranks of one of Wall Street’s oldest and most exclusive stock indexes: The Dow Jones Industrial Average. The e-commerce pioneer will officially take its position in the Dow before the open of trading Monday, replacing drugstore operator Walgreens Boots Alliance. S&P Dow Jones Indices opened the door to Amazon’s inclusion in the Dow and Walgreens’ exit to rebalance the index in light of a 3-to-1 stock split by another Dow company, Walmart. The Dow is a measure of 30 stocks of established, well-known companies sometimes known as “blue chips,” which are supposed to be steadier and safer investments.