Feasting on Turkey

Monday, Asian stocks rose 0.4% on continued strength in Japan’s markets. Stocks in Europe headed the other direction, closing down 0.6%. In the U.S. the turkey celebration continues, with Facebook having another roaring day, closing up to nearly 26 and rising for the day over 8%. AAPL continued its comeback, making a run at 600. Overall, U.S. stocks traded about 0.3% lower for the day taking the Dow Jones Industrial Average below 13,000 on low moderate volume.

Tuesday, stocks in Asia rose 0.5% and 0.3% in Europe. Stocks in the U.S. slid about 0.6% and took the S&P 500 Index again below the 1400 level on low moderate volume. For those of you despondent over the prospects for the future, here’s an article to feed your woe. Wednesday, Asian stocks finally reversed course, closing down 0.6%. Stocks in Europe moved just slightly higher for the day. In the U.S., the S&P 500 Index almost dropped to the 200-day moving average before reversing and climbing to the 1410 level, which seems to be a ceiling of the last four trading sessions. The excuse given for the rise was hope, in part coming from our most trustworthy Mr. Hope and Change himself. The Dow and NASDAQ indexes rose within a whisker of their even-number thresholds.

The trend started in the U.S. fueled Asia Thursday pushing stocks up 0.9%. The fever continued in Europe, booking at 1.1% rise, and in the U.S. with a more modest 0.6% rise on low moderate volume. This move brought the Dow Jones Industrial Average just above the 13,000 level and the NASDAQ just above the 3000 level. Friday, stocks in Asia rose 0.3%. In Europe, the shot up 1.1%, supposedly on Greek progress. In the U.S., stocks traded flat on strong moderate volume.

For the week, Facebook rose nearly 17%, closing at 28. U.S. stocks in general rose just marginally. Precious metals fell over 2%.