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Data: FactSet; Chart: Axios Visuals

The S&P will be getting riskier, as the index's owners announced on Friday they would add Penn National Gaming and Caesars Entertainment to the benchmark equity gauge along with NXP Semiconductors and Generac Holdings.

  • Those companies will replace Xerox, Flowserve, SL Green Realty and Vontier, which will move to the S&P MidCap 400, with changes scheduled to happen before the start of trading on March 22.

Of note: Penn's stock has risen nearly 800% over the past year, joining Tesla as another new S&P entrant that skeptical market watchers have cautioned is displaying the tenants of a highly speculative asset.

Go deeper

Olympians warned to bring burner phones

Illustration: Shoshana Gordon/Axios

When Olympic athletes from all over the world land in Beijing for the 2022 Olympic Games, they'll be loaded up with burner phones and will likely leave their own devices behind.

Why it matters: Athletes are headed to the Beijing Olympics with mixed guidance from their home countries about whether their personal information will be safe online and their devices will be secure.

Omicron is finally burning out

Expand chart
Data: N.Y. Times; Cartogram: Kavya Beheraj/Axios

New COVID infections are declining in the U.S. — a sign that the Omicron wave has likely peaked.

Yes, but: Deaths are rising, and the U.S. still has a lot of COVID — a reminder that even this milder variant is still a very real threat to unvaccinated Americans.

Activist Republicans oppose helping Ukraine

Ground personnel unload weapons, including Javelin anti-tank missiles, and other military hardware delivered on a National Airlines plane by U.S. military at Boryspil Airport near Kyiv on Jan. 25, 2022. (Photo: Sean Gallup/Getty Images)

Republicans running in high-profile primary races aren't racing to defend Ukraine against a possible Russian invasion. They're settling on a different line of attack: Blame Biden, not Putin.

Why this matters: GOP operatives working in 2022 primary races tell Axios they worry they'll alienate their base if they push to commit American resources or troops to help Ukraine fight Russia.