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July 22, 2024 Investor Insights Thumbnail

July 22, 2024 Investor Insights

Investor Insights

BIG and American

July 22, 2024

Enjoy this week's "Investor Insights," a weekly newsletter that highlights the financial news you need and provides tips and tricks for making better investment decisions. 

  • In 2023, American companies held 32 of the top 50 spots in market capitalization, the highest number since 1995. U.S. companies comprised 74% of the total market value of the 50 largest companies, while Chinese companies only accounted for 3%. 1*
  • Only 13% of U.S. workers now earn less than $15 an hour, down from 31.9% two years ago. This has been partly driven by high inflation and strong demand for workers. 2
  • The S&P 500 index is market value-weighted, which means the Magnificent Seven stocks represent around 30% of the index. This high concentration in a few stocks is one reason the Invesco S&P 500 Equal Weight ETF (RSP) has seen $11 billion in net inflows this year. The seven tech stars collectively constitute less than 2% of the RSP. 3*
  • In the first half of 2024, 346 US companies filed for bankruptcy, the highest first-half total since 2010. In June, 75 companies filed for bankruptcy, the highest monthly total since 2020. 4

Sources:

  1. Bloomberg - "The Future Belongs to American Companies, Not Necessarily to Americans"
  2. Axios - "America's Wage Boost: There are Fewer Low-Wage Workers in the US Now"
  3. Barrons - "At Long Last, the 'Other S&P 500' Takes a Bow"
  4. MFS - "Beyond the News"

*Past performance is not indicative of future performance

Disclosure: This information is furnished for the use of Glen Eagle Advisors, LLC, Glen Eagle Wealth, LLC, and their clients and/or contacts. It does not constitute the provision of investment advice to any person. It is not prepared with respect to the specific objectives, financial situation, or particular needs of any specific person. Investors reading this commentary should consult with their Glen Eagle representative/financial advisor regarding the appropriateness of investing in any securities or adapting any investment strategies discussed or recommended in this newsletter. 

Glen Eagle Wealth, LLC is a member of FINRA, MSRB and SIPC 

Glen Eagle Advisors, LLC is a SEC Registered Investment Advisor 

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