S&P 500 Rebalance Sends Bloom Energy and New Entrants Higher

Bloom Energy, Illumina, and Everpure rallied after S&P Dow Jones Indices announced they will join the S&P 500 effective Sept. 21, replacing Molson Coors, The Trade Desk, and Builders FirstSource. Bloom Energy jumped 7.5% after hours, reflecting expected buying from ETFs and other index-tracking funds that must rebalance their portfolios. The reshuffle also extends across S&P’s market-cap indexes, with Dell, Palo Alto Networks, Arista Networks, and Sandisk joining the S&P 100 and HubSpot moving into the MidCap 400.