Stocks changed little in Asia Monday, rose 1.9% in Europe, and 0.8% in the U.S. on low volume. The VXO crashed 22% lower to close at 13.79. The NASDAQ blasted above the 5000 level again the the other two major indices nearly crossed their recent benchmark. The good news was Greece’s giving in to their European Union overlords.
Tuesday, stocks in Asia moved little. In Europe they rose 0.5% and in the U.S. they rose 0.4% on low volume. That was enough rise to push the Dow Jones Industrial Average and the S&P 500 Index back above their recent round-number benchmarks. The VXO dropped 5% to close at 13.14. Wednesday, stocks rose in Asia and Europe 0.4% but fell in the U.S. on low moderate volume. Precious metals fell 1% and their miners dropped nearly 3%. the 10-Year U.S Treasury Bond yield rose 2% to close at 2.35%.
Thursday stocks closed up 0.4%, 0.6% in Asia, Europe, and the U.S. respectively on low moderate volume. VXO fell 13% to close at 11.74. Friday, stocks in Asia gained 0.5%. In Europe, they closed little changed and int the U.S., they fell 0.3% on abysmal volume for an options expiration day. The crash in the Chinese market continued to be contained (suspended) by government action. Greek banks are slated to reopen with restrictions Monday with fresh aid to prop them up. And the NASDAQ reached another all-time high as Google soared. Precious metals miners plummeted 4%.
For the week, the VXO dropped 36% to close at 11.50 while stocks soared and precious metals miners collapsed 8%.