Stocks and Dollar Soar as Gold Gives Ground

Monday, stocks fell 0.7% in Asia, rose 0.6% in Europe, and gained 0.7% in the U.S. on moderate volume. The VXO plummeted 16% to close at 11.83. The Dow Jones Industrial Average closed at another record high despite IBM actually falling below the $160 mark. The big news of the day was Italy ousting their Prime Minister in a continuation of the global nationalist wave.

Tuesday, stocks rose around the world: 0.9% in Asia, 1% in Europe, and 0.6% in the U.S. on high volume. The VXO shed another 5% to close at 11.26 and the Dow Jones Industrial Average logged another record closing high thanks in part to strong gains in financial stocks. IBM also retook the $160 mark.

Wednesday, stocks gained 0.9% in Asia, 1% in Europe, and 1.3% in the U.S. on high volume. Oddly, the VXO rose 6% to close at 11.93. Both the Dow and S&P ended at closing record highs. The 10-Year U.S. Treasury Bond yield fell 2% to close at 2.35%.

Thursday, stocks shot up 1.6% in Asia, rose 1.2% in Europe, and gained 0.3% in the U.S. on high volume — logging another set of major stock index record closing highs. The VXO again oddly moved up — this time 8% — to close at 12.86. The 10-Year U.S. Treasury Bond yield rose 2% to close at 2.39%.

Friday, stocks fell slightly in Asia, but continued upward another 1% in Europe and 0.4% in the U.S. on high volume. The VXO reversed sharply down 16% to close at 10.85 as major stock market indices posted more closing record highs. The 10-Year U.S. Treasury Bond yield rose 3% to close at 2.46% while precious metals fell 2% and their miners gave up about 4%.

Leave a Reply

Your email address will not be published. Required fields are marked *