Blackstone and Airbnb set to join S&P 500; shares climb

Shares of Blackstone and Airbnb rallied in extended trade on Friday after S&P Dow Jones Indices said the two companies would join the S&P 500 index.

Blackstone was up 4.1%, while Airbnb jumped 5% after S&P Dow Jones Indices said the companies would replace Lincoln National Corp and Newell Brands Inc before the start of trading on Sept. 18.

Lincoln National dipped 0.7% and Newell Brands was last unchanged.