Monday, stocks fell in Asia 1%, rose in Europe 1%, and gained in the U.S. 1.1% on moderate volume. The VXO fell 11% to close at 16.98. The S&P 500 Index reclaimed a close above the 2700 level. The 10-Year U.S. Treasury Bond yield rose 2%, to close at 2.86.
Tuesday, stocks shot up 1.7% in Asia, closed little changed in Europe, and rose 0.3% in the U.S. on moderate volume. Precious metals gained 1% while their miners were up three times that amount. The big news came after the close when Gary Cohn announced he would step down as chief economic advisor to the president.
Wednesday, stocks fell in Asia 0.5% but ended the day little changed in Europe and the U.S. on moderate volume. Precious metals fell 1% and their miners fell twice that amount. Thursday, stocks gained 0.5% in Asia, 1% in Europe, and 0.3% in the U.S. on moderate volume. That evening, President Trump announced he would meet with the leader of North Korea in the next couple of months.
Friday, stocks in Asia and Europe rose 0.4%. In the U.S. they moved up 1.4% on moderate volume. The VXO fell 14% to close at 13.91. The hot news of the trading session was the very positive payroll report.