Monday, stocks in Asia rose 0.4% and rose slightly in Europe. Markets were closed for President’s Day in the U.S. Tuesday, Asian stocks fell, while in Europe and the U.S, they gained 0.6% on strong volume. The VXO fell 7% to close at 10.53. Record stock index closes continued for major indices. Here’s an article with some good charts and ideas to explain the state eight-year ramp in stocks.
Wednesday, stocks rose 0.6% in Asia, closed little changed in Europe, and fell 0.3% in the U.S. on moderate volume as the latest FOMC minutes showed a fairly hawkish tone Thursday, stocks fell in Asia 0.3%, fell slightly in Europe, and closed nearly unchanged in the U.S. on high volume. Still, the relentless record-high closing syndrome of the Dow Jones Industrial Average continues unbroken with another positive close. Precious metals gained 1%.
Friday, in Asia stocks shed another 0.3%, in Europe they fell 0.8%, and in the U.S they closed little changed on high volume. But never fear. The Dow Jones Industrial Average eked out another all-time closing high — the eleventh in a row! There’s no euphoria here.