Group 1 - Block will be officially added to the S&P 500 index on July 23, replacing the recently acquired energy company Hess, leading to a more than 10% increase in Block's stock price in after-hours trading [1] - This adjustment marks the second change in S&P 500 constituents this week, with The Trade Desk replacing the software manufacturer Ansys, which was acquired by a new company [1] - Chevron completed a $54 billion acquisition of Hess, despite legal disputes with ExxonMobil over offshore oil field asset ownership, allowing for the smooth completion of the transaction [1] Group 2 - Block's inclusion strengthens the technology sector's weight in the S&P 500, which has become one of the most representative areas of the index due to the growing market capitalization of large tech companies [2] - Originally known as "Square," Block gained prominence through convenient mobile payment terminals and has since expanded into cryptocurrency, lending, and other financial services [2] - Founded in 2009 by Twitter co-founder Jack Dorsey, Block rebranded in 2021 to emphasize its long-term commitment to blockchain technology and development vision [2] - Despite a 14% decline in Block's stock price this year, its current market capitalization of approximately $45 billion remains significantly above the median level of S&P 500 constituents [2]