Monday, stocks fell 1.7% in Asia, 0.3% in Europe, and 0.6% in the u.S. on moderate volume. Precious metals fell 2% and their miners lost twice that amount. Cryptos continued their dramatic slide — all to be undone for the week by the end of the week.
Tuesday, stocks closed little changed in Asia and Europe but gained 0.6% in the U.S. on moderate volume.
Wednesday, stocks fell 1.4% in Europe, and 0.9% in Asia and the U.S. on strong volume. Precious metals fell 3% and their miners lost twice that amount.
Thursday, stocks fell 0.4% in Asia, rose 0.4% in Europe, and gained 0.9% in the U.S. on light volume.
The VXO fell 9% to close at 11.84 and precious metals miners lost another 3%. Traders were encouraged by renewed trade talks with China and a good earnings report from Walmart
Friday, stocks rose 0.7% in Asia, closed little changed in Europe, and gained 0.5% in the U.S. on moderate volume. The VXO fell 6% to close at 11.17. Precious metals gained 1% while their miners rose three times that amount. That was a bit of a comeback for a tough week with metals and miners. This likely is not the bottom, but here’s a good analysis making the case that precious metals and miners are undervalued.