Amazon joins 29 other blue chip companies in the Dow Jones Industrial Average | KLRT [Video]

Amazon.com Inc. is joining the ranks of one of Wall Street’s oldest and most exclusive stock indexes: The Dow Jones Industrial Average.

The e-commerce pioneer will officially take its position among the 30-company Dow before the open of trading Monday, replacing drugstore operator Walgreens Boots Alliance.

S&P Dow Jones Indices opened the door to Amazon’s inclusion in the Dow and Walgreens’ exit to rebalance the index in light of a 3-for-1 stock split by another Dow company, Walmart.

Seattle-based Amazon will share membership in the Dow with the likes of Apple, Boeing, JPMorgan Chase and Coca-Cola.

WHAT IS THE DOW?

It’s a measure of 30 stocks of established, well-known companies. These stocks are sometimes known as “blue chips,” which are supposed to be on the steadier and safer side of Wall Street.

WHAT’S IN THE DOW?

Not just industrial companies like Caterpillar and Honeywell, despite the name.

The roster has changed many times since the Dow began in …