Amazon Makes Its Case to Join the Dow

The stock market continued to suffer declines on Thursday, and as we've seen many times in the recent past, the Nasdaq Composite (NASDAQINDEX: ^IXIC) proved to be more volatile than most other stock market indexes. As of noon ET today, the Nasdaq was down 247 points, or nearly 1.9%, to stay just over the 13,000 mark. That's not quite 20% below its all-time high, but it hardly indicates for certain that the bear market is over.

Gaining ground today, though, was Amazon (NASDAQ: AMZN). The e-commerce giant represents a big part of the Nasdaq, and its latest announcement suggests that the company might be making its move to persuade the index managers at S&P Dow Jones Indices to admit Amazon as one of the 30 stocks in the Dow Jones Industrial Average.

Shares of Amazon had risen more than 5% on Thursday by midday. The company made a couple of moves that should arguably not have a huge impact on the stock. In reality, though, investors saw the announcement as a positive sign.

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Source Fool.com