Monday. stocks in Asia gained 0.3% while those in Europe and the U.S. closed little changed on light volume.
Tuesday, stocks in Asia gained 0.6%, in Europe rose 0.3%, and in the U.S. closed virtually unchanged on moderate volume. NASDAQ closed just above the 8000 benchmark. With NASDAQ 5000 a stretch, it’s clear to see how far beyond reason stocks have risen.
After the bell, IBM reported more dismal quarterly results with their usual quarterly creative accounting tricks. Qualcomm settled their lawsuit favorably with Apple. That settlement propelled Qualcomm 23% higher.
Wednesday, stocks in Asia gained 0.3%, but closed little changed in Europe and the U.S. on strong volume. The VXO moved up 5% to close at 12.83. Qualcomm tacked on another 12% gain. Despite that gain, the NASDAQ dipped to close below the 8000 benchmark and IBM sunk below 140. Thursday, stocks fell 0.5% in Asia but closed little changed in Europe and the U.S. on moderate volume. IBM managed to close back above 140. Friday, virtually all markets were closed for Good Friday.