Thursday, September 18, 2008

Dow Jones Ditches AIG

Kraft Foods Inc. will replace AG in the Dow Jones Industrial Average, effective with the opening of trading on September 22, Dow Jones & Company announced.

"We are refraining at this point from adding another stock in the financial industry because of the extremely unsettled conditions. We realize this decision leaves the Dow Jones Industrial Average under-weighted in financials, and we will address this situation in due course," said Robert Thomson, managing editor of The Wall Street Journal.

"We are adding Kraft because the Dow Jones Industrial Average had no representation in food products. Kraft is one of the world's leading food companies," Mr. Thomson said.

-EPJ Newsdesk

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