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Over time, there have been additions and subtractions to the index, such as mergers and stock splits that had to be accounted for in the index.When one of these events occurs, the divisor for the Dow gets adjusted so the index's value does not become affected.

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Two years later, in 1999, four more components of the Dow were changed.

The most recent change took place on March 19, 2015, when Apple, Inc. The table below alphabetically lists the companies included in the DJIA.

“Yields have risen, inflation evidence is rising rather broadly.

It’s that combo of factors that’s starting to mount,” Jim Paulsen, chief investment strategist at Leuthold Weeden, said by phone.

The first change came just three months after the index was launched.

In its first few years until roughly the Great Depression, there were many changes to its components.

The Dow typically makes changes when a company experiences financial distress and becomes less representative of the economy, or when a broader economic shift occurs and a change needs to be made to reflect it. This means stocks with higher share prices are given a greater weight in the index.

At the Dow's inception, Charles Dow calculated the average by adding the prices of the 12 Dow component stocks and dividing by 12.

When the TV networks say "the market is up today," they are generally referring to the Dow. When the index launched, it included just 12 companies that were almost purely industrial in nature.

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