Monday, stock investors celebrated. Stocks rose 0.5% in Asia, 1.1% in Europe, and 1% in the U.S. on moderate volume. This brought the S&P 500 Index to a new record high close and the Dow back above 22,000. The VXO fell 19% to close at 8.74. Precious metals lost 1% while their miners declined about 3%. The 10-Year U.S. Treasury Bond yield rose 3%, to close at 2.12.
Tuesday, stocks rose slightly in Asia, 0.5% in Europe, and 0.4% in the U.S. on low volume. The VXO fell 5% to close at 8.29. This brought us back to the three major indices all closing at record highs syndrome.
Wednesday, stocks in Asia closed up slightly and closed nearly unchanged in Europe and the U.S. Despite this lack of movement, the incremental gains in the three major indices were all that was needed to continue the record closing high syndrome. Precious metals fell 1% and their miners lost twice that amount.
Thursday, stocks fell 0.5% in Asia, rose slightly in Europe, and closed little changed in the U.S. on moderate volume. The Dow Jones Industrial Average closed in positive territory and thereby continued its string of record closing highs. Friday, stocks in Asia closed virtually unchanged, in Europe fell 0.4%, and rose slightly in the U.S. as volume ramped up on a quadruple witching options expiration day. The Dow and S&P both closed at record highs as the S&P 500 Index closed above the 2500 milestone.