Monday, stocks in Asia fell 0.3% but they rose in Europe 0.5% and in the U.S. 0.8% on low volume thanks to a last-hour ramp that rescued the NASDAQ from a sub-4000 close. The VXO dropped 9% to close at 15.64.
Tuesday, stocks were unchanged in Asia while stocks in Europe declined 1%. While the NASDAQ was negative most of the day, it and the rest of the broader market turned around by the day’s end to close up 0.4% on low moderate volume. Precious metals and their miners were slammed down nearly 2%.
Wednesday, stocks rose 0.9% in Asia, 1.2% in Europe, and 1% in the U.S on low moderate volume. Apparently it was another Yellen party — totally disconnected from reality. Like the previous one, this two-day wonder will likely crash and burn before long. In keeping with the mood, the VXO tumbled 10% to close at 13.53. Gold hung on to stay just above the $1300 per ounce mark. After the bell, turkey stock IBM, announced its bad news and fell 4% in after-hours trading.
Thursday, stocks rose just slightly in Asia, 0.5% in Europe, and 0.3% in the U.S. on very low volume for an options-expiration day. The VXO fell another 5% to close at 12.80 while gold dropped below the 1300 level again. Fearless buyers persist. Here’s another article that explains how IBM persists in playing financial games (like buying stock highly overvalued stock) to prop up an uninspiring business.
For the week, stocks powered skyward about 2.7% and the VXO plummeted 25%.