Monday, stocks fell 0.3% in Asia and 0.5% in Europe but rose 0.6% in the U.S. on light volume. The VXO fell 10% to close at 16.19. The calm aftermath of the U.S. surgical strike on Syria eased market anxiety.
Tuesday, stocks fell 0.3% in Asia but rose 0.8% in Europe and 0.6% in the U.S. on light volume. The VXO fell 11% to close at 14.47. The S&P 500 Index retook the 2700 level. In a sure sign of froth and blatant buybacks, IBM closed over 160. Apparently, “investors” finally catching on to IBM’s creative accounting ploys as they released their dismal earnings report after the bell.
Wednesday, stocks gained 0.8 in Asia, 0.3% in Europe, and slightly in the U.S. on moderate volume. IBM closed down 8% to close below 149. while precious metals gained 1%.Thursday, stocks fell 0.3% in Asia, closed nearly unchanged in Europe, and fell 0.5% in the U.S. on moderate volume. This was enough to drag the S&P 500 Index back below 2700 again. The 10-Year U.S. Treasury Bond yield rose 2%, to close at 2.91.
Friday, stocks closed down 1.1% in Asis, little changed in Europe, and fell 0.5% in the U.S. on moderate volume. The VXO gained 10% to close at 16.72. The 10-Year U.S. Treasury Bond yield closed at 2.95, while precious metals miners lost 2%. Cryptocurrencies gained another 20% for the week.