Google parent Alphabet's shares entered the Dow Jones Industrial Average on Monday, in an index reshuffle replacing Verizon Communications, signalling a tech shift in the blue chip benchmark.

Alphabet joins the Dow Jones Industrial Average on June 29, replacing Verizon. Here's why Alphabet joined the Dow and what it means for investors.

Alphabet (NASDAQ: GOOG) stock climbed nearly 2% on Monday as the Google parent officially replaced Verizon in the price-weighted Dow Jones Industrial Average.

Google parent Alphabet's shares entered the Dow Jones Industrial Average on Monday, in an index reshuffle replacing Verizon Communications, signalling a tech shift in the blue…