Monday, markets were closed in Europe. In Asia, stocks rose slightly. In the U.S., they gained 0.9% on moderate volume. The VXO rose 8% to close at 13.29. Tuesday, stocks worldwide lost ground. In Asia they fell 0.7%, in Europe 1.2%, and the U.S. 0.4% on strong volume. The 10-Year U.S. Treasury Bond yield fell 3% to close at 2.18. After hours IBM released another dismal earnings report.
Wednesday, stocks fell 0.5% in Asia, rose slightly in Europe, and fell 0.3% in the U.S. on strong volume as IBM’s 5% tumble dragged down the major indices. The VXO moved up 6% to close at 13.87 while precious metals dropped 1% and their miners gave up three times that amount. Thursday, stocks rose 0.5% in Asia, slightly in Europe, and 0.7% in the U.S. on strong volume. The VXO fell 8% to 12.87 while the 10-Year U.S. Treasury Bond yield dropped 2% to close at 2.24.
Friday, stocks rose 0.7% in Asia, closed little changed in Europe, and fell 0.3% in the U.S. on strong volume. The VXO rose 6% to close at 13.40. Here’s an article with some really good graphs that gives gives some insight into the current asset bubble.