What matters this week: signs of a downward trend?
It's really been a boring start to the FY. Both the S&P500 and All Ordinaries Index have struggled against the tide of slack profit growth but higher valuations.
A sense that the Fed is on the cusp of raising US interest rates is becoming more real and the market is getting a little nervous. Still, the Fed has been on the cusp of raising rates for many months.
In terms of individual large cap stocks, this week has been quiet. And down a little. Only CBA, IAG, QBE, Westfield and Woolworths rose, and then only by not much. The rest of the Twenty Leaders eased slightly.