Monday, stocks moved up in Asia 1% and slightly higher in Europe and the U.S. on moderate volume. Tuesday, stocks gained worldwide in reaction to a speech given by the leader of China. Asia was up 1%, Europe 0.9%, and the U.S. 1.5% on strong volume. The VXO fell 7% to close at 21.16.
Wednesday, stocks rose 0.3% in Asia, fell 0.6% in Europe, and lost 0.4% in the U.S. on moderate volume. Precious metals gained 1% and their miners gained about twice that amount as the minutes from the most recent FOMC meeting contained no hints of easing up for the bulls.
Thursday, stocks fell 0.4% in Asia, but gained 0.7% in Europe and 0.6% in the U.S. on light volume. The VXO dropped 7% to close at 19.43. Earnings season and a bit of relief regarding the potential U.S. military strikes in Syria switched stock traders back to their former giddy selves — at least for the day. Precious metals and their miners fell 1% while the 10-Year U.S. Treasury Bond yield gained 2%, to close at 2.83. Cryptocurrencies bounced back from the dead with a daily gain of about 15%. Some believe the swoon was caused by selling to pay taxes and the rise reflects the relief of that pressure.
Friday, stocks closed little changed in Asia and Europe but fell 0.3% in the U.S. on light volume. Cryptocurriencies had another strong day. For the week, the crypto majors gained about 30%.