On June 23, S&P Dow Jones Indices made an announcement stating that Alphabet will be incorporated into the Dow Jones Industrial Average (DJIA) prior to the market's opening on June 29, where it will replace Verizon Communications. Owing to Verizon's comparatively low stock price, its influence within the DJIA is merely around 0.5%, exerting a negligible effect on this price-weighted index.

In stark contrast, Alphabet boasts a wide-ranging business portfolio that encompasses advertising, cloud infrastructure, AI, hardware, autonomous driving, and various other domains. With its higher market capitalization and stock price, Alphabet is poised to become a more emblematic member of the communications services sector within the DJIA.

Furthermore, Honeywell International is anticipated to finalize the spin-off of its aerospace business on the same day. The parent company will be rebranded as Honeywell Technologies and will continue to be part of the DJIA, while the newly spun-off aerospace business will not be included.