Uber set to join the S&P 500 index in latest sign of turnaround for the ride-hailing service

Uber is set to join the S&P 500 index later this month, the latest sign that the ride-hailing and delivery company is turning its business around after struggling through much of the pandemic. The San Francisco-based company will be added to the index prior to the opening of trading on Dec. 18, S&P Dow Jones Indices said late Friday. Joining the S&P 500 can be a big boost for a stock because the index is widely tracked by many funds. That translates into more demand for stocks in the index, driving up their price. Uber shares jumped 5.2% in midday trading Monday.