Monday, stocks closed little changed in Asia, fell 1% in Europe, and lost 0.5% in the U.S. on strong volume. The VXO moved up 8% to close at 19.74.
Tuesday, stocks fell in Asia 0.4%, rose in Europe 0.8%, and gained slightly in the U.S. on moderate volume. The VXO gained enough to close above the 20 threshold. Precious metals gained 1% and their miners rose twice that amount.
Wednesday, stocks rose 0.6% in Asia, 0.4% in Europe, and 1.1% in the U.S. on high volume. The VXO fell 8% below the 20 benchmark to 18.47. The Dow Jones Industrial Average reclaimed the benchmark 25,000 benchmark. Precious metals and their miners gained 1%. The reason for all of this excitement was that Powell and the FOMC made what was deemed dovish statements.
Thursday, stocks in Asia rose 1.1% while in Europe they rose only slightly. In the U.S., stocks gained 0.6% on very high volume. The VXO shed 7% to close at 17.10. The 10-Year U.S. Treasury bond rate fell 2% to close at 2.64 while precious metals miners gained 2%. The S&P 500 Index reclaimed the 2700 benchmark, but the Dow closed just below the 25,000 mark. Friday, stocks fell 0.4% in Asia, rose slightly in Europe, and gained 0.3% in the U.S. on strong volume. Precious metals fell 1%, and the 10-Year U.S. Treasury bond rate rose 2% to close at 2.69.