Blackstone (BXMT.US) and Airbnb (ABNB.US) surged on Tuesday after it was announced that both companies will be joining the S&P 500 index, effective September 18. Blackstone, which will replace Lincoln National, saw its stock rise by as much as 5.0%, while Airbnb, replacing Newell Brands, enjoyed a gain of up to 8.3%.
Analysts view Blackstone's inclusion as a major milestone, marking the first time a listed alternative asset manager has joined the S&P 500, which could broaden the investor base and lead to a re-rating of the company and the sector at large. The inclusion of both companies in the index is considered a significant positive catalyst, reinforcing the willingness of the S&P index committee to make impactful changes during rebalances.
Airbnb

Airbnb stock price experienced a rapid surge following the announcement. Company shares have been on an upward trendline since the beginning of this year. Recently shares bounced from the $123 support level, and the price is now approaching a $145 resistance level.

Source: xStation 5
Will the U.S. Supreme Court decision shake Wall Street? 🗽 These stocks could benefit
The L3Harris Technologies rollercoaster ⚔️Nearly 13% gains wiped out despite a billion-dollar government investment❓
DE40: European equities overbought❓All eyes on US CPI💡
JP Morgan's Net Income Down 7% on Investment Banking Miss