S&P 500 boots out the old and welcomes the new

Once a quarter the S&P 500 - the index tracking the biggest 500 companies in the US stocks by market cap - does a reshuffle.

So who is out?

• Robert Half - a mega recruitment agency.
• Comerica - a regional commercial bank.
• Illumina - a biotech company.

And who is in?

• Crowdstrike - a Texas based cyber security firm.
• GoDaddy - a domain registering and hosting company.
• KKR - a huge global investment company.

The changes will take place on the 24th June.

If you've got an ETF that tracks the S&P 500 as part of your portfolio then you will be automatically investing in these companies come the 24th.

All three firms entering the index got a boost on the news. It's interesting that we're seeing two software companies going in. Much of the recent growth in the index has been driven by huge valuations for tech stocks, and that looks set to continue with the latest inclusions.