JP Morgan issued a warning regarding the debt level and stock prices.
Monday, stocks in Asia shot up 2.4%, in Europe gained 1.5%, and in the U.S. moved up 1.4% on extremely high volume. The 10-Year U.S. Treasury bond yield rose 2% to close at 0.68. Precious metals gained 1% and their miners moved up twice that amount. The Dow closed above 26,000 and the NYSE ended the day above 12,000. Apple and IBM closed above their 370 and 120 benchmarks respectively. The NASDAQ logged a record closing high. The CDC reported that the Wuhan Flu is dropping below epidemic levels.
Tuesday, stocks fell 1.0% in Asia, 0.6% in Europe, and 1.4% in the U.S. on very high volume. The VXO moved up 10% to close at 26.73. The 10-Year U.S. Treasury bond yield fell 5% to close at 0.65. Precious metals moved up 1% while their miners gained twice that amount. The Dow and NYSE closed below their 26,000 and 12,000 benchmarks respectively. IBM closed above its 120 benchmark.
Wednesday, stocks closed up 1.1% in Asia, fell 0.6% in Europe, and gained 0.8% in the U.S. on very high volume. The Dow and NYSE closed above their 26,000 and 12,000 benchmarks respectively. Apple closed above its 380 benchmark. Precious metals gained 1% and their miners moved up three times that amount. The NASDAQ logged a record closing high.
Thursday, stocks gained 1.2% in Asia, fell 0.8% in Europe, and fell 1.3% in the U.S. on very high volume. The VXO moved up 6% to close at 27.14. The 10-Year U.S. Treasury bond yield fell 7% to close at 0.60.The Dow and NYSE closed below their 26,000 and 12,000 benchmarks respectively. The NASDAQ logged a record closing high. And as you may have suspected, and despite relentless negative press to the contrary hydroxychloroquine might actually be useful in the fight against the Wuhan Flu.
Friday, stocks fell 1.0% in Asia, rose 0.9% in Europe, and moved up 1.2% in the U.S. on high volume. The VXO fell 7% to close at 25.29. The 10-Year U.S. Treasury bond yield fell 7% to close at 0.60. The Dow and NYSE closed above their 26,000 and 12,000 benchmarks respectively.
The NASDAQ logged another consecutive record closing high. Of course, this divergence in sentiment could be viewed as unhealthy and an early indication of a reversal. It might be a good idea to keep a close eye out for a downturn orchestrated by the powers that be and timed to impact the election this fall.