Monday, stocks rose 0.4% in Asia, slightly in Europe, and 0.3% in the U.S. on light volume. The 10-Year U.S. Treasury bond yield rose 3% to close at 1.85. Precious metals lost 1% and their miners declined about twice that amount. The S&P 500 Index logged an all-time closing high as traders anticipated a stock-friendly next move from the FOMC two days hence.
Tuesday, stocks gained 0.3% in Asia, fell slightly in Europe, and gained slightly in the U.S. on light volume. The VXO rose 5% to close at 13.13. Wednesday, stocks closed little changed in Asia, fell slightly in Europe, and gained 0.3% in the U.S. on light volume. The FOMC lowered rates another 0.25% as described here. That madness prompted enough gain in the S&P 500 Index to send it to another closing high. The 10-Year U.S. Treasury bond yield fell 2% to close at 1.80.
Thursday, stocks closed little changed in Asia, fell 0.5% in Europe, and fell 0.6% in the U.S. on moderate volume. The 10-Year U.S. Treasury bond yield plummeted 6% to close at 1.69. Friday, stocks gained 0.5% in Asia, 0.65% in Europe, and 1% in the U.S. on moderate volume. The VXO fell 7% to close at 12.42. The 10-Year U.S. Treasury bond yield fell 2% to close at 1.73. Apple powered upward to close above the 250 benchmark. Major indices S&P, NASDAQ, and NYSE all logged record closing highs.