Switzer on Saturday

Trump, Telstra and the trial of our banks are headwinds rattling stocks!

Founder and Publisher of the Switzer Super Report
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Friday Close
Change
Change %
Week Change %
Dow Jones
24,753.09
-58.67
-0.24%
0.15%
S&P 500
2,721.33
-6.43
-0.24%
0.31%
NASDAQ
7,433.85
9.43
0.13%
1.08%
ASX 200
6,032.80

-4.30
-0.07%
-0.90%
Data for week commencing 21 May 2018

In a week when Donald Trump unwound a lot of his good work with China, North Korea and Wall Street, the S&P/ASX 200 index lost 4.3 points on Friday to end at 6032.8. For the week, however, the Index shed 54.6 points (or 0.9%). And considering the headwinds, it wasn’t a bad effort.

Throw in the fact that the ‘banks behaving badly’ nightmare continues, giving the Royal Commission relevance, while hurting their stock prices. To make matters worse, Telstra plummeted to a seven-year low! For the record, the low was $2.72 but the bargain hunters started to give Andy Penn the benefit of the doubt, which is considerable, so the stock ended at $2.87.

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