Overview

• AppLovin, Robinhood and Emcor will enter the S&P 500 before trading on Sept. 22, according to S&P Dow Jones Indices.
• MarketAxess, Caesars Entertainment and Enphase Energy will be removed from the benchmark and shifted to the S&P SmallCap 600.
• Shares of Robinhood and AppLovin jumped about 7% in after-hours trading on the announcement, while Emcor rose roughly 2% to 3%.
• Strategy (formerly MicroStrategy) was not selected despite meeting size thresholds, and its stock fell about 2% to 3% after the news.
• Inclusion typically triggers mandatory buying by index-tracking funds, and eligibility requires market value in the low tens of billions alongside profitability, liquidity and share-float screens.