Monday, stocks fell 0.3% in Asia and in Europe. In the U.S. they rose 0.4% on moderate volume. This was enough of a boost to kick the S&P 500 Index above 2000 and the NYSE Average above 10,000. Oil shot up another 4% to close at 37.84 and precious metals miners also gained 4% on the day.
Tuesday, stocks fell 0.6% in Asia, 0.9% in Europe, and 1.4% in the U.S. on moderate volume. This dragged the Dow below 17,000, the S&P 500 below 2000, and the NYSE Composite below 10,000. The VXO shot up 10% to close at 20.18. The 10-Year U.S. Treasury Bond yield fell 4% to close at 1.83. Precious metals fell 2% and their miners dropped twice that amount.
Wednesday, stocks rose slightly in Asia, rose 0.5% in Europe, and rose 0.6% in the U.S. on light volume. This along with IBM’s frantic stock buyback mania boosted the Dow Jones Industrial Average pennies above the 17,000 level, The 10-Year U.S. Treasury Bond yield rose 3% to close at 1.89.
Thursday stocks rose 0.3% in Asia, fell 1.8% in Europe, and changed little from the previous close in the U.S. on moderate volume. The 10-Year U.S. Treasury Bond yield rose 2% to close at 1.93. Precious metals shot up 2.5% while their miners moved up twice that amount.
Friday, stocks rose 0.8% in Asia, 2.7% in Europe, and 1.9% in the U.S. on moderate volume. All four four major stock indices highlighted here rose above their recent benchmarks. The VXO fell another 11% to end the week at 17.26 while the 10-Year U.S. Treasury Bond yield rose 2% to close at 1.98.