Bank of America Corp. and Chevron Corp. will replace Honeywell International Inc. and Altria Group Inc. on the Dow Jones industrial average next week, Dow Jones & Co. said Monday.The changes to the blue chip index of 30 stocks are intended to better reflect which industries have greater influence over the economy and stock market, Dow Jones said.
Bank of America, based in Charlotte, N.C., is the nation's biggest bank by deposits, and Dow Jones said the financial industry does not have enough representation in the index.
Dow Jones said it added Chevron, an energy company based in San Ramon, Calif., to the index because of the oil and gas industry's growing importance to the global economy.
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