GM and Citigroup Expelled from Dow Jones
June 2, 2009 by Stephen Kersey
Filed under Business
When it comes to stock market indexes in the Unites States, the Dow Jones industrial average is king. On Monday, General Motors and Citigroup got the heave-ho from the Dow Jones.
This isn’t a very surprising turn of events. With GM and Citigroup now being highly involved with the United States federal government, most market experts believed this to be a logical step.
Market experts also weren’t surprised by the two replacements — Travelers Co and Cisco Systems. Cisco Systems is an addition that makes a lot of sense because of its connection to the growing internet world. Travelers Co, which is an insurance company for commercial, home and auto purposes, has long been rumored to be on the Dow Jones doorstep.
Considering that General Motors has been a part of the Dow Jones industrial average for more than 80 years, this is definitely a momentous occasion.
Cisco Systems (Image: Flickr)
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