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DoorDash, Williams-Sonoma, Expand, & TKO Group join S&P 500

In This Article:

DoorDash (DASH), Williams-Sonoma (WSM), Expand Energy (EXE), and TKO Group Holdings (TKO) joined the S&P 500 (^GSPC).

Morning Brief hosts Brad Smith and Madison Mills discuss how the stocks are reacting.

To watch more expert insights and analysis on the latest market action, check out more Morning Brief here.

00:00 Speaker A

DoorDash, Williams Sonoma, Expand Energy, and TKO Group, all joining the S&P 500 today. It's part of a quarterly reshuffling of the index. The changes take effect before the start of trading today. There you're taking a look at some of those shares pre-market for DoorDash, Williams Sonoma, Expand Energy, and TKO, all up. This is typical and a move that you would see as some of the companies get reshuffled and enter into the index because it means that hey, more people who own them in their retirement accounts, or ETFs, whatever the case may be, they now own a piece of these companies too.

00:40 Speaker B

Yeah, it's interesting to see the names that they own and what that means for their growth moving forward here. And usually, you do see a bump in those names when they are added. You're seeing that playing out today. But I will also mention the broader markets are up today, so it's a good day to be added to the S&P 500 because stocks are moving to the upside, so they are going to lift all ships with it. When you have ETFs buying the likes of the S&P 500, for example, that tends to lift all boats here, but interesting to see those individual names. Again, you've got DoorDash, Williams Sonoma, Expand Energy, and TKO as well.

01:12 Speaker A

You know, it's interesting as we were talking about DoorDash last week, I think it was you and I breaking that down, or it might have been me and Ali. We discussed it at one point where the Klarna deal, that seemed to be the big talk of the weekend, the brunch table talk of the weekend. Everybody was just trying to figure out why you have to break down your DoorDash or your Caviar payments with Klarna. That's a sad state of affairs many were going.

01:55 Speaker B

Yeah.

02:00 Speaker A

But it was interesting as well because now, if you go into some of your apps, for instance, if you go into Uber, you can see that you're getting like a small discount if you actually use one of those services, too. So that starts to elucidate some of the incentivization that they're going to try and put forward to get people to pay in installments. Get 50% off if you're using that service. I thought it was just fascinating to see it play out, and for that to be the brunch conversation.

02:45 Speaker B

Absolutely.

02:47 Speaker A

Right.

02:48 Speaker B

Well, and we'll just remind folks that Klarna and DoorDash are partnering, so that you can do a buy now pay later type system for your food delivery services. Of course, there are questions about what the fees look like if you don't stick to your payment schedule, and that is, of course, a risk in an environment where consumers are already struggling. All things we'll keep covering here at Yahoo Finance.