Monday, stocks fell slightly in Asia and gained 0.3% in Europe. Markets were closed in the U.S. for President’s Day. Tuesday, stocks fell 1.3% in Asia and 0.4% in Europe and the U.S. on moderate volume. The 10-Year U.S. Treasury bond yield fell 2% to close at 1.56. Precious metals gained 1% while their miners shot up four times that amount. The NASDAQ logged another record closing high.
Wednesday, stocks gained 0.4% in Asia, 0.8% in Europe, and 0.3% in the U.S. on moderate volume. The S&P and NASDAQ indices registered record closing highs. Precious metals gained 1% and their miners moved up twice that amount. Thursday, stocks closed down 0.8% in Asia and Europe, and fell slightly in the U.S. on strong volume. The VXO moved up 10% to close at 15.43. The 10-Year U.S. Treasury bond yield fell 3% to close at 1.52.
Friday, stocks fell 0.6% in Asia, 0.5% in Europe, and 0.6% in the U.S. on strong volume. The VXO shot up 15% to close at 17.71. The 10-Year U.S. Treasury bond yield fell 4% to close at 1.47. Precious metals rose 1.5% and their miners moved up twice that amount. The Dow and NYSE closed below their 29,000 and 14,000 benchmarks respectively, Apple and IBM closed below 320 and 150 respectively. Here’s an article that assigns the blame for this farce of investment market with the Fed.