Why did Alphabet-Google join the Dow and what does it mean for the markets?

Alphabet (GOOGL, GOOG), Google’s parent company, is getting a seat in the Dow Jones Industrial Average before trading starts on June 29, while Verizon (VZ) is getting kicked out. S&P Dow Jones Indices, owned by S&P Global (SPGI), manages the index and made the call. For markets, the reason is pretty clear. The Dow wants...