Palantir Technologies (PLTR), Dell Technologies (DELL) and Erie Indemnity (ERIE) will join the S&P 500 index before the open on Monday, Sept. 23. All three stocks jumped late, with Erie and possibly Palantir signaling new highs.
They will replace American Airlines (AAL), Etsy (ETSY) and Bio-Rad Laboratories (BIO). American Airlines and Bio-Rad Labs will drop from the S&P 500 down to the S&P MidCap 400, while Etsy slides all the way to the S&P SmallCap 600. American and Etsy stock fell slightly in late trading. Bio-Rad was not active.
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Stocks Slammed As Selloff Intensifies; Palantir, CubeSmart, ResMed In Focus
Incoming S&P 500 Stocks Jump
Palantir stock jumped nearly 7% in late trade, getting close to the three-year high of 33.13 set on Aug. 22. PLTR stock rose 0.6% to 30.33 on Friday, just retaking the 21-day line after finding support near the 10-week line on Wednesday.
There has been buzz about Palantir, a notable AI software play, joining the S&P 500 throughout 2024.
Dell stock popped 7% in extended action, signaling a move back above its 200-day line but still below a sliding 50-day. Shares of the server, PC and storage company and AI play plunged 11.7% for the week.
S&P 500 buzz has surrounded Dell stock for much of the year as well.
Erie stock gained about 4%, signaling a record high. Shares of the insurance company edged down 0.4% for the week to 506.30.
Please follow Ed Carson on Threads at @edcarson1971 and X/Twitter at @IBD_ECarson for stock market updates and more.
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