What happened
S&P Dow Jones Indices has announced the removal of Nike and Colgate-Palmolive from the S&P 100 index.
Why it matters
Changes to a major index like the S&P 100 can ripple through investment products that track it, such as index funds and exchange-traded funds. Removing well-known consumer companies reshapes the index's composition and may prompt fund managers to rebalance their holdings accordingly.
Key facts
Nike and Colgate-Palmolive have been taken out of the S&P 100 index.
The removal was announced by S&P Dow Jones Indices.
What to watch next
Investors and market watchers may look for further announcements from S&P Dow Jones Indices about whether replacements will be added to the S&P 100 and when any changes take effect.
