Monday, stocks fell 0.5% in Asia and Europe. Markets were closed in the U.S. for Labor Day.
Tuesday, stocks advanced slightly in Europe but declined 0.5% in Asia and 0.4% in the U.S. on 11B shares traded. The 10-Year U.S. Treasury bond yield rose 5% to close at 3.34.
Wednesday, stocks dropped 2.1% in Asia and 0.5% in Europe but gained 1.5% in the U.S. on 10B shares traded. The VIX fell 8% to end at 24.64. The 10-Year U.S. Treasury bond yield fell 2% to close at 3.26. Precious metals gained 1% while their miners moved up four times that amount.
Thursday, stocks gained 1.1% in Asia, 0.5% in Europe, and 0.8% in the U.S. on 10B shares traded. The S&P 500 Index ended the day above the 4000 level.
Friday, stocks advanced 1.6% in Asia and 1.5% in Europe and the U.S. on 10B shares traded. Precious metals gained 1% while their miners advanced three times that amount. The Dow, NASDAQ, and NYSE indices closed above their respective 32,000, 12,000, and 15,000 levels. The Fed balance sheet declined an anemic 4B to $8.82T as the Fed continues to fall far behind the balance sheet roll-off rate that it promised.