Stocks Advance as CPI Declines

Monday, stocks fell 0.8% in Asia but rose 0.7% in Europe and in the U.S. on 11B shares traded. The 10-Year U.S. Treasury bond yield rose 3% to close at 2.76. Precious metals gained 2% and their miners advanced 3%. 

Tuesday, stocks lost 0.8% in Asia, 0.5% in Europe, and 0.3% in the U.S. on 11B shares traded. IBM ended below the 130 benchmark. 

Wednesday, stocks dropped 1.0% in Asia, gained 0.7% in Europe and shot up 1.9% in the U.S. on 12B shares traded. The VIX fell 9% to close into the greed range at 19.74. The S&P 500 Average closed above its 4200 benchmark and IBM ended back above 130. The CPI cooled a bit last month thanks to a big decline in sky-high gasoline prices. 

Thursday, stocks blasted 2.3% higher in Asia, rose slightly in Europe, and gained 0.3% in the U.S. on 12B shares traded. The 10-Year U.S. Treasury bond yield rose 4% to close at 2.89. Precious metals fell 1% and their miners gave up twice that amount. The Dow Jones Industrial Average ended above the 33,000 level. Apple closed above the 170 benchmark. 
 
Friday, stocks gained 0.6% in Asia, slightly in Europe, and 1.3% in the U.S. on 10B shares traded. Precious metals and their miners advanced 2%. The NASDAQ closed above the 13,000 benchmark.

For the week, stocks advanced about 3%. The Federal Reserve balance sheet moved up from the previous month to $8.88T.

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