PLTR, DELL rally on news of replacing American Airlines, Etsy in S&P 500: Here’s how the index makes its calls

Palantir’s share price is up double digits after it was announced that it and Dell would replace the other companies this September.

Shares of Palantir Technologies (NYSE: PLTR) and Dell Technologies (NYSE: DELL) are rallying on news they’ll be joining the S&P 500 later this month. S&P Global, which runs the index, says the tech giants, along with insurance provider Erie Indemnity (NASD: ERIE), will be added before the start of trading on September 23. The move is part of a quarterly rebalancing of the S&P indexes.