iShares S&P 100 ETF

Nearly 10,000 millionaires are expected to flee Britain in 2024, driven away by mounting economic and political uncertainties. This mass exodus, highlighted in the Henley Private Wealth Migration Report 2024, marks a record-breaking surge in wealthy individuals leaving the UK, and it comes at a pivotal moment just weeks before the country’s July 4 elections. The anticipated outflow of 9,500 millionaires will be eclipsed only by China, which is expected to see 15,200 of its affluent citizens depart. This British migration figure is more than double the 4,200 who left last year, underscoring the increasing dissatisfaction among the UK’s wealthy elite. Post-Brexit, from 2017 to 2023, the UK has already witnessed a significant exodus of millionaires, totaling 16,500. This ongoing trend paints a stark picture of the nation’s shifting economic landscape and the broader global movement of wealth. On a global scale, approximately 128,000 millionaires are projected to relocate in 2024. “Over 7% of the 128,000 millionaires projected to move globally in 2024 will be choosing to depart the UK,” said Dr. Hannah White OBE, director and CEO of the Institute for Government in London. For the third consecutive year, the UAE is set to be the world’s leading wealth magnet, attracting a record 6,700 millionaires. Meanwhile, the United States, holding the second spot globally, is expected to welcome 3,800 millionaires in 2024, up from the 2,200 who entered in 2023. This steady influx highlights ...Full story available on Benzinga.com

Related tickers: EWU, OEF.

As the S&P 500 and Nasdaq 100 indices continue to notch new all-time highs, it’s clear that the rising tide has not lifted all boats. Sharp-eyed analysts and investors have noted some discordant features in a stock market at its peak, raising questions about the euphoria that currently reigns supreme on Wall Street. Mega-Cap Dominance Unprecedented Since Late 2008 The dominance of mega-cap stocks hasn’t been this pronounced in nearly sixteen years. The top 100 U.S. stocks by market capitalization, monitored through the iShares S&P 100 ETF (NYSE:OEF), have never been stronger against the Russell 1000 Index, as tracked by the iShares Russell 1000 ETF (NYSE:IWB), since December 2008-. David Morrison, senior market Analyst at Trade Nation, commented, “There are concerns about the US market's lack of breadth with so much of the overall performance concentrated in the stock price of a few corporations. In fact, the five biggest companies by market capitalization in the S&P 500 account for nearly 30% of its value. The size and ...Full story available on Benzinga.com

Related tickers: IWB, OEF, RSP, SPY.