Silicon Valley Bank out of S&P 500 index; Insulet selected to replace it

S&P Indices said late Friday that Insulet Corp.
PODD,
-0.97%
will replace Silicon Valley Bank parent SVB Financial Group
SIVB,
-60.41%
in the S&P 500 index
SPX,
-1.45%
at the open on Wednesday. The bank was shut down Friday by regulators. Insulet is medical device company based in Massachusetts. Insulet stock rallied 7% in the extended session after ending the regular trading day down 1%.