Alphabet joining Dow Jones June 29 in S&P Global shakeup

Alphabet replaces Verizon, GOOG only

Alphabet will replace Verizon in the DJIA, a spot Verizon held since 1984, highlighting how tech companies are taking over from traditional telecommunications companies in major indexes.
Only Alphabet's Class A shares (GOOGL) are being added; Class C shares are not included.
While it is a big moment for Google fans and Wall Street watchers alike, experts note that most investment money still tracks the S&P 500 rather than the Dow.