If Those 4 Stocks Had Been in the Dow . . .
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Timing is everything.
Thursday’s Dow rally would have been even bigger if the stock substitutions to be made in the index on Monday had been made on Thursday.
Of the stocks Dow Jones & Co. is adding to the 30-stock index on Monday, Home Depot surged $4.88 to $74.56 on Thursday, Intel rose $2.75 to $72.19 and SBC Communications rocketed $4 to $52.19. Microsoft, however, fell $1 to $89.88.
Meanwhile, of the four stocks that will be booted from the index, Chevron was unchanged at $89.88, Union Carbide inched up 50 cents to $60, Goodyear Tire slipped 19 cents to $40.13 and Sears added just 19 cents to $27.69.
With the substitutions, the Dow’s gain Thursday would have been about 279 points, or 2.7%, versus the actual 227.64 points, or 2.2%.
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