Google Joining S&P: But Who's Next?

Google (GOOG) will be added to the S&P 500 index after Conoco Philips (COP) completes the acquisition of Burlington Resources (BR). According to Bloomberg.com, S&P 500 fund managers will have to buy $11.1 billion of Google's stock because of its inclusion in the index. Index funds will receive $1.7 billion for Burlington Resources shares.

There will be more space in the S&P 500 as Guidant, Cinergy, and Jefferson-Pilot are removed. I believe the Chicago Merc (CME), could gain listing in the S&P 500.

S&P 500 Listing Criteria
-Trade for at least 6-12 months
-4 profitable quarters in a row
-50% of the float available

The Google inclusion along with the Yahoo (YHOO) upgrade today should help lift the markets higher for a few days, especially anything internet related.