Monday, stocks in Asia changed little but rose in Europe 1.2% and in the U.S. 0.8% on low volume. Remaining fear withered as the the VXO dropped 9% to close at 10.70. Tuesday, stocks rose in Asia 0.5%, in Europe 0.6%, and in the U.S. 0.4% on very low volume.
Wednesday, stocks fell in Asia 0.3% but were nearly unchanged in Europe. In the U.S., stocks rose slightly on very low volume. Thursday, stocks moved little in Asia, but rose 0.7% in Europe and 0.3% in the U.S. on very low volume. That was enough to log a new all-time high for the S&P 500 Index and bring the Dow Jones Industrial Average above the 17,000 level again.
Friday, stocks moved up 0.3% in Asia and down that same amount in Europe. In the U.S., stocks declined 0.3% on very low volume, but the Dow Jones Industrial Average still managed to close the week above the 17,000 level. For the week, stocks charged upward another 1.5% in a very low volume week, and fear continued to vaporize as the VXO shed another 10% for the week to end at 10.56.