Key Takeaways S&P 500 Entry : Block (formerly Square) joins the S&P 500 on July 23, 2025 , replacing Hess after its acquisition by Chevron . Market Reaction : Block’s stock surged >10% post-announcement as funds rebalanced portfolios to include it . Challenges Persist : Despite the boost, Block’s 2025 performance remains down 14% YTD due to weak Q1 results and tariff-related macro concerns . Strategic Significance : Entry validates Block’s pivot to blockchain/fintech and accelerates crypto’s mainstream adoption . Next Catalyst : Q2 earnings on August 7 will test whether S&P-driven demand offsets economic headwinds . The Big News: Block Is Joining the S&P 500 Come July 23rd, Block—y’know, the company behind Square and Cash App—steps into the S&P 500. They’re takin’ Hess’s spot, which is exitin’ after Chevron wrapped up that $54 billion buyout. Hess had some juicy oil assets down in Guyana, but Chevron finally closed ...
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