Monday, stocks rose in Asia 0.4%, in Europe 1.7%, and in the U.S. 1.4% on moderate volume. The VXO dropped 10% to end the day at 20 as crude oil shot up about 4%. Tuesday, Asian stocks changed little while those in Europe and the U.S. fell 1.3% on moderate volume. The VXO shot up 11% to end the day at 22.20 while crude oil slid 5% to close at 31.80. Precious metals rose 1% and their miners gained twice that amount.
Wednesday, stocks fell 1.3% in Asia and 2.3% in Europe, and after some wild swings closed nearly unchanged in the U.S. on moderate volume.Thursday, stocks changed little in Asia but rose 2% in Europe. In the U.S. they rose 1% on moderate volume. The VXO fell 7% to close at 20.71 and the 10-Year U.S. Treasury Bond yield fell 3% to close at 1.70. If you thought corporate earnings were falling lately, it turns out you were right.
Friday, stocks rose in Asia 0.6% and in Europe 1.6% while they closed little changed in the U.S. on light volume. For the month, stocks gyrated severely yet rose only about 2%. The real action was in precious metals which shot up about 10%, and their miners skyrocketed 35%. Also worth noting, the 10-Year U.S. Treasury Bond yield fell 8% for the month.