Stocks and Crude Oil Rise as Fear Evaporates

Monday, stocks rose 0.3% in Asia, fell 0.5% in Europe, and fell slightly in the U.S. on light volume. Tuesday, stocks fell 0.9% in Asia but rose 2.3% in Europe and rose 1.2% in the U.S. on light volume. The VXO fell 9% to close at 13.69. Precious metals fell 2% and their miners dropped three times that amount.

Wednesday, stocks rose around the world — 2.1% in Asia, 1.3% in Europe and 0.9% in the U.S. on light volume. The VXO fell 7% to close at 12.77 while precious metals miners gained about 3%. Crude oil approached $50 per barrel, and IBM moved well above $150 per share indicating a very overbought market.

Thursday, stocks rose 0.3% in Asia, slightly in Europe, but fell 0.3% in the U.S. on low volume. The 10-Year U.S. Treasury Bond yield fell 2% to close at 1.83 while precious metals miners gained 3%. Friday, stocks rose 0.8% in Asia, slightly in Europe, and 0.3% in the U.S. on low volume. The 10-Year U.S. Treasury Bond yield rose 2% to close at 1.85 while precious metals miners gained 3%.

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