Kenvue, the J&J spinoff, will join the S&P 500 index

Kenvue Inc., maker of Tylenol, Benadryl and other household names in health-care products, is joining the S&P 500, index provider S&P Dow Jones Indices said late Wednesday.

Kenvue
KVUE,
-0.13%
shares rose nearly 3% in the aftermarket. S&P Indices said it will set a date for the addition after Johnson & Johnson
JNJ,
-0.06%,
which spun off Kenvue earlier this year, completes an exchange offer.