Block (NYSE: XYZ) has surged by over 7% this morning after the S&P Dow Jones Indices announced that this company is joining the S&P 500 Index effective Wednesday. This has pushed the stock above its 200-day moving average for the first time since spring and has option desks buzzing that it could break above $80.

Block jumped after being tapped to join the S&P 500, a move that sets the stage for index investors to buy the stock

Block (XYZ) stock surged as much as 8.9% in Monday morning trading after S&P Dow Jones Indices said it will add the Cash App parent to the S&P 500 Index, replacing Hess (HES), which is set to be acquired by Chevron.

Block shares surge after joining S&P 500, as fintech firm gains institutional traction and bullish forecasts from Wall Street analysts.

While there are a lot of cap-weighted S&P 500 ETFs available for purchase, there aren't very many equal-weight index funds. The best option for U.S. investors is the Invesco S&P 500 Equal Weight ETF ( RSP -0.04%).

Block, the financial technology company formerly known as Square, will join the index before the start of trading on Wednesday, according to S&P Dow Jones Indices, which oversees the S&P 500.

That’s the percentage of S&P 500 companies that have reported second-quarter earnings higher than Wall Street expected, according to a FactSet report released Friday. The figure, which only counts companies that have already reported,

The Vanguard S&P 500 ETF ( VOO -0.08%) is one Buffett has recommended by name in the past, and it's popular for its extremely low cost. According to Wall Street analyst Tom Lee from Fundstrat Global Advisors, the S&P 500 could soar by 139% by 2030, so investors who buy the Vanguard ETF today could earn a very nice return over the next five years.

Jack Dorsey’s Block Inc. is set to join the S&P 500 index, a milestone that underscores the growing influence of digital payments and crypto in mainstream finance.

With the Fed's Open Market Committee meeting next week, the CME Group's FedWatch Tool is projecting the Fed will continue to hold the Federal Funds Rate in a target range of 4.25-4.50% until its 17 September (2025-Q3) meeting, when it is expected to cut the rate by a quarter percent.

The S&P 500 index is meant to be broadly representative of the U.S. economy. The well-known index is also a key gauge for tracking the U.S. stock market. The S&P 500 is what just about everyone uses to monitor the performance of the U.