Monday, stocks fell 0.6% in Asia, 0.4% in Europe, and 0.3% in the U.S. on low volume. Tuesday, stocks closed little changed in Asia, rose 0.6% in Europe, and gained 1% in the U.S. on strong volume. Although all three major indices posted record closing highs, the VXO actually rose 5% to close at 9.03. Perhaps the North Korean ICBM launch had something to do with it.
Wednesday, stocks fell slightly in Asia and gained 0.3% in Europe and the U.S. on high volume. The VXO rose 8% to close at 9.78. The 10-Year U.S. Treasury Bond yield rose 2%, to close at 2.38 while precious metals fell 1% and their miners fell about twice that amount. The Dow Jones Industrial Average logged another record closing high.
Thursday stocks fell 1.4% in Asia and 0.5% in Europe, but they gained 0.5% in the U.S. on very high volume. The VXO gained another 6:% to close at 10.36. The 10-Year U.S. Treasury Bond yield tacked on another 2%, to close at 2.42. Both the S&P 500 Index and the Dow Jones Industrial hit record highs as the Dow Jones Industrial Average blasted above the 24,000 mark.
Friday, stocks worldwide closed little changed. Trading volume in the U.S. was high. The VXO rose 5% to close at 10.86. The 10-Year U.S. Treasury Bond yield slid 4%, to close at 2.33. Despite the FAANGs recent slide and volatility creeping up, stock indices remain locked into their relentless rise. Speaking of bubbles, Bitcoin blasted above $10,000 per “coin.”