Amazon to join Dow Jones Industrial Average, replace Walgreens

ISTANBUL

Amazon.com Inc. will replace Walgreens Boots Alliance Inc. in the Dow Jones Industrial Average (DJIA), S&P Dow Jones Indices announced Tuesday.

"Reflecting the evolving nature of the American economy, this change will increase consumer retail exposure as well as other business areas in the DJIA," it said in a statement.

In addition, Uber Technologies Inc. will replace JetBlue Airways Corp. in the Dow Jones Transportation Average.

"This change will help the index gain exposure to the ride sharing industry," said the statement. "The index change was prompted by JetBlue’s low weight in the index of less than one-half of one percentage point caused by its low share price."

The Dow Jones Transportation Average is a price weighted index, as very low-priced stocks have an immaterial impact on the index, according to the statement.