Monday, stocks closed in Asia nearly unchanged. In both Europe and the U.S. they rose 0.6% on low moderate volume. The VXO fell nearly 10% to end the day at 14.37. Over the weekend, Greece elected an anti-austerity party to lead their country. That should make the coming days in Europe rather interesting. Tuesday, stocks in Asia gained 1%, but in Europe they fell 0.8% and in the U.S. 0.6% although major indices lost much more on low moderate volume. The VXO skyrocketed 22% to close at 17.52, and precious metals miners gained 3%.
Wednesday, stocks in Asia and Europe moved little. The fireworks were in the U.S. though with stocks plummeting 1.65% on moderate volume. The VXO shot up another 15% to close above the benchmark 20 at 20.19 as the FOMC sounded less and less like the candy man of old. Facebook turkey stock reported their big lie.
Thursday, stocks in Asia followed through with the U.S. momentum and fell 1.5% while stocks in Europe moved little. In the U.S., stocks rallied 0.8% on moderate volume after a statement by Janet Yellen. The VXO fell 7% to close at 18.74 while silver fell 6% and precious metals miners dropped 2%. Friday, stocks fell in Asia 0.4%, in Europe 0.6%, and in the U.S. 1.4% on strong volume while the 10-Year U.S Treasury Bond yield dropped over 4% to close at 1.68% and the VXO shot up 12% to close at 20.97. This brought the S&P 500 Index below the benchmark 2000 to end the week at 1995.