Daily Market Updates: Ferguson Enterprises to join the S&P 500, stock jumps more than 8%

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Ferguson Enterprises to join the S&P 500, stock jumps more than 8%

The Newport News, Virginia industrial firm’s shares rose more than 8% as the index inclusion replaces other names.

Reported · Written up by our desk · Indices

Ferguson Enterprises’ stock surged by more than 8% after news that the Newport News, Virginia company will be added to the S&P 500 index, according to MarketWatch.

The announcement also means Ferguson is set to replace other, more established names that had been considered for inclusion, MarketWatch reported.

As of the move, the rally signals investor attention on the index change and the potential effects of a new S&P 500 constituent.

Latest closeS&P 500 7,489.72 ▲0.7%

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MarketWatchThe S&P 500 is making a change by adding this little-known industrial stock

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Ferguson Enterprises to join the S&P 500, stock jumps more than 8%

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