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- MSCI and S&P are soon to make some changes to how tech companies are categorized on the S&P 500 for the first time since 1999.
- On September 28, a new Communication Services sector will replace the current Telecoms sector, and will include some of the biggest stocks including Facebook and Netflix.
- It's only the second sector addition since 1999, and is a recognition of how consolidation has melded the telecom, media, and internet industries together.
- Exchange-traded funds that track S&P 500 sectors will be most affected by the reclassification, and some big providers are already making changes ahead of the implementation.
Some big changes are coming to the US stock market.
On September 28, S&P Dow Jones Indices and GICS will create a new sector for tech, media, and telecoms companies, and it's a change that will affect many of the the biggest and most popular stocks on the market.
See the rest of the story at Business Insider
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