FTSE Russell index reshuffle takes effect on Friday, Nvidia becomes the top weighted stock

The semi-annual FTSE Russell index rebalancing will take effect after the US stock market closes this Friday. Nvidia will replace Apple as the largest weighted stock in the Russell 1000 Index, and Walmart will enter the top 10 weighted stocks for the first time. SpaceX and CoreWeave are included in the index system, with 62 companies newly added to the Russell 1000 Index and 237 companies entering the Russell 2000 Index. Alphabet and AMD will be removed from the Russell 1000 Value Index. This rebalancing coincides with the US quarter-end pension rebalancing window, and Goldman Sachs expects US pensions to have net sales of about $3 billion in stocks at the end of this quarter. JPMorgan pointed out that companies remaining in the Russell 2000 are expected to see their overall dividend yield increase by about 16.5%.