Abstract

It was a milestone for strange times last week when the company with the longest record in the Dow Jones Industrial Average (DJIA) index, ExxonMobil, once the largest company in the world, was replaced by a software company, Salesforce. Only one company in the original DJIA exists today.


Weekend market update: Following last Thursday when the NASDAQ was down 5% on the day and S&P500 down 3.5%, further falls on Friday of 1.3% and 0.8% respectively delivered the biggest pullback since June. However, both markets closed well above their lows on better-than-expected US employment data. With the tech sector now accounting for a third of the S&P500, where big tech goes, so does the market. The ASX200 started the week at 6,079 but finished at 5,925 as Australia followed Wall Street dow

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