Square-parent Block (XYZ) is set to be added to the S&P 500 index on Wednesday, July 23, replacing Hess (HES) following Chevron’s recent acquisition of Hess. This news spurred a significant jump in Block’s stock, which rose by 10% on Friday as anticipation built around the index inclusion. Block’s stock is experiencing a robust week, boasting an increase of 11.8% by Friday’s close, and successfully re-establishing itself above the critical 200-day moving average.
In contrast, Robinhood (HOOD) and several potential entrants like AppLovin (APP), Carvana (CVNA), Interactive Brokers (IBKR), and Vertiv (VRT) were once again overlooked for the index. Earlier this week had seen the Trade Desk (TTD) taking the place of Ansys (ANSS), showcasing ongoing fluctuations in the index composition.
While Robinhood’s stock fell back after the announcement, it had previously seen an impressive rise of 11.6% during the week, reaching new heights and accumulating a staggering 194.5% increase since the beginning of 2025. The other companies also showed mixed results, with AppLovin experiencing a slight decline after hours despite a substantial weekly gain, and Interactive Brokers enjoying a strong performance following their earnings report.
The stock market remains dynamic, with companies like Block showcasing strong momentum as they achieve index recognition. This change reflects burgeoning investor confidence and evolving market trends, encouraging continuous interest in technological and financial innovations within the S&P 500 index.