Monday, stocks gained 1% in Asia 0.3% in Europe, and 3.6% in the U.S. on massive volume. The VXO cratered 29% to close at 33.14. Precious metals gained 1% while their miners shot up five times that amount. The Dow gained nearly 1300 points to close well above the 26,000 level. The S&P, regained the 3000 level while Apple gained 9% to recover to nearly 300. The 10-Year U.S. Treasury bond yield fell 3% to close at 1.09 — another new record low.
Tuesday, stocks in Asia fell 0.3%, gained 1.2% in Europe, and fell 2% in the U.S. on massive volume. The VXO jumped up 21% to close at 40.13. The Federal Reserve caved to pressure and cut the federal funds rate 50 basis points.
The stock market reacted with a sell-off. Precious metals shot up 3% and their miners gained about twice that amount. The Dow ended below 26,000; Apple closed below 290; and IBM closed below 130. 10-Year U.S. Treasury bond yield plummeted 7% to close at 1.01 — another record low.
Wednesday, stocks gained 0.5% in Asia, 1.5% in Europe, and 3.7% in the U.S. on extremely high volume. The VXO fell 20% to close at 32.29. Precious metals moved up twice that amount. The Dow gained nearly 1200 points to close above 27,000, while the NASDAQ gained 4% to close above 9,000. Apple closed above 300, and IBM closed back above 130. 10-Year U.S. Treasury bond yield fell 2% to close at 0.99 — another record low. Joe Biden’s strong showing on Super Tuesday may have given traders hopes a boost as his rival Bernie Sanders is seen as more antagonistic toward business.
Thursday, stocks gained 1.3% in Asia, lost 1.4% in Europe, fell 3.2% in the U.S. on extremely high volume. The VXO shot up 31% to close at 42.33. 10-Year U.S. Treasury bond yield collapsed another 7% to close at 0.93 — another record low. Precious metals and their miners moved up another 2%. The Dow shed nearly 1000 points to close well below 27,000 again while the NASDAQ gave up 9000 and the NYSE dropped well below 13,000. Apple closed below 300, and IBM closed below 130 again.
Friday, stocks fell 2% in Asia, 4% in Europe, and 2.8% in the U.S. on massive volume. The VXO moved up another 8% to close at 45.77. The Dow closed below 26,000 and the S&P 500 ended below 3000.