Block to Join S&P 500 Following Chevron–Hess Merger Completion

Block Inc. (NYSE: XYZ), the fintech powerhouse behind Cash App and Square, will officially join the prestigious S&P 500 index next week.

The move follows Chevron Corporation’s acquisition of Hess Corp (NYSE: HES), which has now been finalized.

According to a press release from S&P Dow Jones Indices, Block will be added to the S&P 500 prior to the market open on Wednesday, July 23, replacing Hess Corp in the benchmark index. The decision comes after Chevron (NYSE: CVX), a constituent of both the S&P 500 and S&P 100, completed its acquisition of Hess today, July 18.

Block’s inclusion in the S&P 500 marks a significant milestone for the company, which has evolved from a payments-focused startup into a diversified financial services platform. With growing consumer lending through Cash App Borrow and deeper integration of Bitcoin payments, Block continues to push the boundaries of fintech innovation.

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Being added to the S&P 500 is expected to elevate Block’s visibility among institutional investors, especially those managing passive index-tracking funds. Historically, inclusion in the index often results in higher trading volume and can drive positive momentum for the stock.

S&P Dow Jones Indices is the world’s largest provider of index-based data and benchmarks, known for key financial indicators like the S&P 500 and the Dow Jones Industrial Average.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.