Palantir and Dell become part of the S&P 500. Share prices rise.

Palantir Technologies (PLTR), Dell Technologygies (DELL) and Erie Compensation (ERIE) will be added to the S&P 500 Index before the market opens on Monday, September 23. All three stocks rose late, with Erie and possibly Palantir signaling new highs.

They will replace American Airlines (EEL), Etsy (ETSY) and Bio-Rad Laboratories (BIO). American Airlines and Bio-Rad Labs fall from the S&P 500 to the S&P MidCap 400, while Etsy slides to the S&P SmallCap 600. American and Etsy shares fell slightly in late trading. Bio-Rad was not active.

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Rising prices for S&P 500 stocks

Palantir shares rose more than 7% in late trading, approaching a three-year high of 33.13 reached on Aug. 22. PLTR shares rose 0.6% to 30.33 on Friday, just reclaiming the 21-day line after finding support near the 10-week line on Wednesday.

There have been rumors that Palantir, a well-known AI software company, could join the S&P 500 sometime in 2024.

Dell shares rose nearly 6% later in the day, signaling a return above the 200-day moving average but still below the 50-day moving average. Shares of the server, PC and storage company and AI company plunged 11.7% for the week.

Dell shares were also affected by the hype in the S&P 500 for much of the year.

Erie shares rose by about 3 percent, marking a record high. The insurance company's shares lost 0.4 percent to 506.30 during the week.

Please follow Ed Carson on Threads at @edcarson1971 and X/Twitter at @IBD_ECarson for stock market updates and more.

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