The S&P/ASX 200 (Index: ^AXJO) (ASX:XJO) was eventful this week. Here are four big stories you may have missed that affected the ASX 200 index:
BHP Group Ltd (ASX: BHP) cash bonanza
The BHP share price got a boost midweek after it revealed a US$1.02 per share (approx A$1.42) special dividend after it completed a US$5.2 billion share buyback.
BHP said that it is returning US$10.4 billion to shareholders and that in total US$21 billion has been given to shareholders over the last two years.
But, the BHP share price still managed to increase over the week despite the fall in the share market.
US shutdown spooks the market
I don't think this will be the last time we hear about this, but President Trump is threatening to shutdown the US government if the Democrats don't fund his wall election promise. Indeed, the shutdown is on course to start in a few hours (from the time of writing).
Funding for about a quarter of all US federal agencies will lapse at midnight US time.
That's partly why the ASX200 finished the week down by around 2.5%. The S&P 500 finished down a more painful 7%.
US Federal Reserve raises rates again
Seemingly in defiance of President Trump's desires, the US Federal Reserve increased its interest rate, although it did signal rate rises may be slower than previously signalled.
In theory, shares are meant to be valued lower when interest rates are higher. This particularly hurts popular growth tech shares. For example, the Appen Ltd (ASX: APX) share price finished down by 7.5% for the week.
National Australia Bank Ltd (ASX: NAB) shareholders revolt
The big bank faced a record revolt from shareholders as 88% of shareholders voted against its remuneration report. Around 64% of shareholders also voted against giving CEO Andrew Thorburn deferred shares as part of his deferred pay.
The Royal Commission is causing all sorts of problems for the bank. Indeed, this AGM season has seen several shareholder votes. The NAB share price finished the week down by 3%.
