Monday, stocks rose 0.6% in Asia, but did little in Europe and the U.S. on abysmal volume. But never fear. The S&P 500 Index captured another closing high. The 10-Year U.S Treasury Bond yield, precious metals miners stocks, and crude oil all slid about 2%.
Tuesday, stocks fell 0.7% in Asia, 1.0% in Europe, and 0.5% in the U.S. on less volume than on Monday. Gold miners recovered Monday’s losses by gaining more than 3% perhaps related to dollar weakness. Wednesday, stocks in Asia and Europe gained 0.4% but in the U.S. they fell 0.9% on low volume. The VXO shot up 22% to close at 16.27.
For the year, stocks gained 4.5%, but in the process the S&P 500 Index logged 53 closing record highs. Precious metals fell about 14% but gold alone lost less than 2%. The big news was that the the 10-Year U.S Treasury Bond yield plummeted 74% close the year at 2.2% when nearly everyone expected a rise in rates. Finally, investor sentiment continued to soar as bears became an endangered species.
Thursday, financial markets were closed to celebrate New Years Day. Friday, stocks fell in Asia slightly and in Europe 0.4%. Stocks in the U.S. closed with little change on low volume. Precious metals miner stocks rose about 3%, but gold itself still remained mired below the $1200 per ounce mark.