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There will soon be a new way to play FANG stocks

Patti Domm

Facebook, Netflix and Alphabet, parent of Google, along with media and telecom companies, will become part of a new S&P Dow Jones industry sector for communications services, starting Monday. Analysts do not expect a big market move when the new sector is launched Monday to replace telecom, but the fact some FANG names are in the sector means other components, like media stocks could see more buying interest. Formation of the new sector could also result in a buying spree in tech, as money managers attempt to rebalance their holdings because of the loss of Alphabet and Facebook.

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