5 Biggest Wall Street Stories Of The First Nine Months Of 2020

President Donald Trump expects to have coronavirus vaccine for every American by April. He told in the recent news conference: "Hundreds of millions of doses will be available every month.” Trump added that distribution of a vaccine would begin within 24 hours of it being approved by federal health regulators.

Stock Splits

Two of the hottest stocks – Tesla (TSLA - Free Report) and Apple (AAPL - Free Report) – split their shares in the ratio of 5-for-1 and 4-for-1, respectively at the end of August. The move made these stocks more accessible to investors and employees and attracts individual investors, who make small trades.

This is because a stock split creates more shares of a company without changing the underlying dollar value of any single investor's holdings. By increasing the number of shares available, the company can attract new investors who might otherwise not be able to afford a single share at a high price.

Dow Shake-Up

The Dow Jones Industrial Average has undergone major changes effective Aug 31 before the market open. Three stocks, namely Exxon Mobil (XOM), Pfizer (PFE), and Raytheon (RTN), in the blue-chip index, were replaced by salesforce.com Inc. (CRM - Free Report), Amgen Inc. (AMGN), and Honeywell International (HON). This is the first reshuffle since 2013.

salesforce.com is the first cloud-software entry into the Dow Jones Industrial Average. The inclusion of Amgen indicates the rise of biotech as the race for the COVID-19 vaccine continues while Honeywell makes a comeback after 10 years. After the reshuffle, UnitedHealth Group (UNH) has become the most heavily weighted component in the Dow, followed by Home Depot (HD) and Amgen (AMGN). salesforce and Honeywell occupied the sixth and 11th positions in the index, respectively. 

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