Robinhood, AppLovin jump on S&P 500 inclusion

Shares of retail trading platform Robinhood Markets HOOD.O and marketing platform AppLovin APP.O each climb 7.4% to $108.7 and $526.6, respectively, premarket

HOOD, APP and mechanical and electrical construction services firm Emcor EME.N to join S&P 500 .SPX index effective before Sept 22 open, S&P Dow Jones Indices said on Friday

EME up 2.2% at $639 in low volumes

Bond trading platform MarketAxess MKTX.O, solar inverter maker Enphase Energy ENPH.O and casino operator Caesars Entertainment CZR.O make way for HOOD, APP and EME, to move to S&P 600 Small Cap Index .SPCY

J.P.Morgan estimates indexer demand at 26.5 mln APP shares and 75.2 mln HOOD shares

Inclusion typically boosts a stock as passive funds and ETFs must purchase shares to match benchmark