Uber's S&P 500 Inclusion Sparks Active Investor Interest

Uber's stock rose 2.2% after news broke that the company would be joining the S&P 500, a move that will attract forced buyers of the stock due to over $7 trillion tracking the index. Joining the S&P 500 is a significant milestone for Uber, as it solidifies its position as a major player in the U.S. equity market. This development also serves as a reminder that investors buying ETFs or mutual funds tracking the S&P 500 are not as passive as the term "passive investing" suggests. The index has seen over 700 changes since 1995, with some of the current market leaders, such as Tesla and Amazon, only being added relatively recently. The inclusion of Uber, along with manufacturers Jabil and Builders FirstSource, reflects the changing dynamics of the market and the rise of sectors like ridesharing and manufacturing.