On February 18, 2021, the Dow Jones Industrial Average closed at 29348.03 and the S&P 500 closed at 3386.15. Amazon closed at 338.30 (about 0.6193% of S&P index) and Apple closed at 117.68 (about 1.1015% of S&P index). The DJIA divisor at that time was 0.147445684.

a) Suppose the next day the only Dow and S&P stock to close up was Amazon by 3% and the others remained unchanged. Show what would be the new DJIA value and S&P 500 level.

b) Does the stock have the same effect on the two indexes based on the percentage impacts? Explain any differences.