Monday, stocks rose 0.6% in Asia and Europe and 0.4% in the U.S. on light volume. The 10-Year U.S. Treasury Bond yield fell 2% to end at 2.82. Tuesday, stocks closed little changed in Asia and rose slightly in Europe and the U.S. on moderate volume.
Wednesday, stocks in Asia gained 0.4% while in Europe and the U.S. they closed little changed on light volume. The big news of the day was that the present stock market bull is now longer than any in stock market history. Of course, a bit of caution may be in order as valuations are also sky-high as detailed in this article.
Thursday, stocks fell 0.8% in Asia, slightly in Europe, and 0.4% in the U.S. on light volume. Precious metals fell 1% and their miners shed three times that amount. Friday, stocks closed little changed in Asia and Europe, but gained 0.5% in the U.S. on light volume. Precious metals gained 1% and their miners gained three times that amount. Fed Chair Powell’s speech at Jackson Hole indicated more of the same regarding FOMC policy.