FOMC Urges More Deficit Spending

Monday, stocks in Asia gained 1.0%, in Europe closed unchanged, and in the U.S. moved up 1.3% on strong volume. The VXO advanced 7% to close at 26.01. Precious metals gained 1% while their miners moved up four times that amount. The NASDAQ closed above the 11,000 benchmark.

Tuesday, stocks rose 0.6% in Asia, 0.7% in Europe, and 0.3% in the U.S. on high volume.

Wednesday, stocks gained 0.6% in Asia, 0.5% in Europe, and 0.2% in the U.S. on high volume. The VXO moved up 5% to close at 26.46. The Dow Jones Industrial Average closed above the 28,000 benchmark. The FOMC completed their meeting with no new actions. A statement regarding the need for more fiscal stimulus (deficit spending) spooked investors a bit.

Thursday, stocks fell 1.0% in Asia, 0.5% in Europe, and 0.4% in the U.S. on high volume. The Dow Jones Industrial Average and NASDAQ closed below their 28K and 11K benchmarks respectively.

Friday, stocks in Asia closed unchanged. Stocks declined 0.6% in Europe and 0.9% in the U.S. Volume was about usual for a quadruple witching day. Apple closed below the 110 benchmark.

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