Exxon Mobil replaced by a software stock after 92 years in the Dow is a ‘sign of the times’

CNBC | Exxon Mobil’s been in the Dow in some form since 1928, but its tenure as the longest-serving component is coming to an end.

On Monday, S&P Dow Jones Indices announced the largest changes to the 30-stock benchmark in seven years. Along with Exxon, which is being replaced by Salesforce, Pfizer and Raytheon Technologies are being removed in favor of Amgen and Honeywell International. The changes take effect Aug. 31.

Exxon’s removal is a “sign of the times,” Raymond James said, as the company — and energy sector broadly — falters, a weakness made all the more apparent by strength in technology names.

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