The S&P 500 is getting another shakeup, this time with the addition of Block Inc. S&P Dow Jones Indices, which determines membership of the benchmark index SPX, said after the close of Friday trading ...

Block rose 7% Monday after S&P Global said the fintech company will replace Hess in the S&P 500. Passive funds are expected to buy around 101 million shares ahead of inclusion, according to Stephens.

Block is joining the S&P 500, replacing Hess as of July 23. Hess is exiting the index upon its acquisition by Chevron. In May, Block reported disappointing quarterly results and issued a weak forecast ...