Monday, stocks fell in Asia 0.4%, in Europe 1.6%, and in the U.S. 0.6% on low volume. The VXO rose 5% to close at 15.35. Tuesday, stocks moved little in Asia. In Europe they moved 0.6% higher and in the U.S. 0.4% on low volume.
Wednesday stocks fell in Asia 0.7%, and fell in Europe 0.5%, but in the U.S. they rose slightly on low volume as the FOMC continued stalling their ever-future rate hike. This was just enough to bring the S&P 500 Index again over 2100. Crude oil declined pennies below the $60 per barrel level and precious metals rose 1% and their miners more than doubled that gain as the latest deadline for the Greek saga nears with both sides talking tough. Of course, talk is cheap, and commitments seem to be meaningless.
Thursday, stocks in Asia and Europe rose slightly. In the U.S., they moved up 0.8% on low moderate volume. The Dow Jones Industrial Average eclipsed it’s recent benchmark level and the NASDAQ set an all-time record high all despite deteriorating prospects for Greece to make its next debt payment. The VXO fell 11% to close at 13.36, crude oil popped above the $60 mark, the 10-Year U.S Treasury Bond yield rose 2% to close at 2.35%, and gold rose above the $1200 per ounce level.
Friday, stocks in Asia and Europe rose 0.3% but dropped 0.6% in the U.S. on strong volume. Options expiration accounted for the strong volume. The VXO rose 7% to close at 14.29 while gold dipped just below $1200 per ounce, and crude oil closed just below $60 per barrel. The 10-Year U.S Treasury Bond yield fell nearly 4% to close at 2.27%. Will banks open in Greece Monday? Time will tell.