Stocks and Cryptocurrency Soar

Here’s another good bitcoin article about getting started as well as a case for caution. Clearly, dabbling in this cryptocurrency world is a wildly speculative venture. As always, do your own research.

Monday, stocks rose in Asia 0.8%, closed virtually unchanged in Europe, and rose slightly in the U.S on low volume. The VXO tumbled 9% to close at 7.76. The S&P 500 Index and Dow Jones Industrial Average both logged record closing highs. The big news of the day was that the CBOE began trading bitcoin futures contracts.

Tuesday, stocks closed almost unchanged in Asia, gained 0.8% in Europe, and rose slightly in the U.S. on moderate volume. The VXO gained 7% to close at 8.33. With incremental gains, the S&P 500 Index and Dow Jones Industrial Average attained record closing highs.

Wednesday, in Asia stocks closed up 0.3%, in Europe they fell that same amount, while in the U.S. they closed little changed on moderate volume. Despite lackluster performance of stocks overall, the Dow Jones Industrial Average from logged another closing record high. And despite the FOMC raising the federal funds rate another 0.25% (as expected), the 10-Year U.S. Treasury Bond yield fell 2%, to close at 2.35.

Thursday, stocks closed little changed in Asia, fell 0.5% in Europe, and lost 6% in the U.S. on moderate volume. Friday, stocks lost 1% in Asia, fell slightly in Europe, and rose 0.6% in the U.S. on volume characteristic of a quadruple-witching day. The VXO dropped 9% to close at 7.88. All three major stock indices logged record closing highs.

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