Monday, stocks closed nearly unchanged in Asia and Europe. In the U.S., stocks fell 0.5% on low volume. The VXO shot up 13% to close at 11.88 while precious metals declined 2% and their miners lost twice that amount.
Tuesday, stocks in Asia closed up 0.6% while in Europe and the U.S. they rose slightly on light volume. The VXO rose 6% to close at 12.58. Precious metals fell 1% and their miners dropped about twice that amount.
Wednesday, stocks rose slightly in Asia, rose 0.4% in Europe, and fell 0.3% in the U.S. on moderate volume. The news of the day was that the FOMC left rates unchanged despite having every reasonable opportunity to raise them. Thursday, stocks in Asia closed nearly unchanged while they fell 1% in Europe, and changed little in the U.S. on light volume. The VXO closed up 11% at 13.63 with the move coming at the close while precious metals fell 2%.
Friday, stocks rose 0.7% in Asia and Europe. In the U.S., they rose 0.4% on moderate volume. This pushed the S&P 500 Index to another closing record. The VXO fell 15% to close at 11.52. Precious metals fell 4% while their miners fell 3%.