Monday, stocks fell 0.9% in Asia, 0.4% in Europe, and slightly in the U.S. on high volume. The VXO moved up 7% to close at 11.56. Tuesday, stocks rose 0.4% in Asia, 1.1% in Europe, and 0.5% in the U.S. on high volume as the party before the nearly certain FOMC rate rise began. The Dow closed in on 20,000 with another record high close as the VXO moved up 6% to end the day at 12.30.
Wednesday, traders awaited word from the FOMC. In Asia stocks rose 0.5%, in Europe they fell the same amount, and in the U.S. they fell 1.2% on high volume. Bonds declined also as the 10-Year U.S. Treasury Bond yield gained 2% to close at 2.53. Precious metals lost 2% while their miners gave up about three times that amount. It’s been a year since the last rate hike. The FOMC decision to raise rates was highly anticipated.
Thursday, stocks fell 2.1% in Asia, rose 1% in Europe, and gained 0.3% in the U.S. on high volume. The 10-Year U.S. Treasury Bond yield moved up 2% more to close at 2.58 while precious metals lost 3% and their miners gave up twice that amount. Friday, stocks gained slightly in Asia and Europe but closed little changed in the U.S. on high volume.