Monday, stocks gained 0.5% in Asia, shot up 2.2% in Europe, and gained 1.3% in the U.S. on strong volume. The VXO plummeted 29% to close at an unsustainable 9.42. The 10-Year U.S. Treasury Bond yield rose 2% to close at 2.27 while precious metals fell 1% and their miners dropped twice that amount.
The anti-establishment French election result cheered markets. Could this be another Trump bump? Here’s an interesting article indicating how stretched the markets are from a historical perspective.
Tuesday, stocks rose 1% in Asia, slightly in Europe, and 0.6% in the U.S. on high volume as the NASDAQ closed above 6000 for the first time ever as it rides the wave of about five stocks. The VXO fell 8% to 8.62. The 10-Year U.S. Treasury Bond yield rose 2% to close at 2.33 as precious metals fell 2% and their miners lost twice that amount.
Wednesday, stocks gained 0.5% in Asia, rose 0.4% in Europe, and closed little changed in the U.S. on strong volume. The VXO gaine 12% to close at 9.65. Thursday, stock rose slightly in Asia, fell slightly in Europe, and changed little in the U.S. on strong volume. However, the NASDAQ pressed on to new record closing high. Friday, stocks fell slightly in Asia and Europe. In the U.S., stocks fell 0.4% on strong volume. The VXO fell 7% to close at 9.25.