Monday, stocks gained 1.3% in Asia, lost 0.3% in Europe, and gained 0.7% in the U.S. on high volume. The VXO fell 8% to close at 22.34. The 10-Year U.S. Treasury bond yield rose 2% to close at 0.61. Precious metals moved up 2.5% and their miners gained twice that amount.
Should you get the test for Wuhan flu? According to the CDC, if you test positive, you may have it. If you test negative, you may not have it. What’s the point?
Tuesday, stocks gained 0.9% in Asia, 0.4% in Europe but fell 0.5% in the U.S. on high volume. The VXO moved up 6% to close at 23.72. The 10-Year U.S. Treasury bond yield fell 2% to close at 0.59. Precious metals gained 1%. Was the shutdown worth doing? According to Sweden’s results, we likely would have been better off letting nature take its course.
Wednesday, stocks fell slightly in Asia, were unchanged in Europe but gained 1.4% in the U.S. on very high volume as the FOMC voted to continue the support of the “economy.” The VXO fell 6% to close at 22.31. Apple closed above its 380 benchmark.
Thursday, stocks fell 0.3% in Asia, 2.2% in Europe, and 1.1% in the U.S. on very high volume. The VXO fell 9% to close at 24.20. The 10-Year U.S. Treasury bond yield cratered 7% to close at 0.54. Precious metals fell 2% while their miners gave up twice that amount. Qualcomm shot up 15% as it reached a settlement with Huawei.
Friday, stocks fell 1.8% in Asia, 1.0% in Europe, and 0.5% in the U.S. on extremely high volume. Apple soared 10% and closed above the 420 benchmark on a very positive earnings report and announcement of a four-for-one stock split.
The previous week, it was silver that stole the show. This week the alternative investment is cryptocurrency. The Fed’s reckless and illegal balance sheet debasement and helicopter money from Congress seems to be coming home to roost. Cryptocurrency gained about 20% this week.