Monday, stocks fell 0.9% in Asia, 0.6% in Europe, and 1.5% in the U.S. on 10B shares traded. The VIX rose 8% to close at 22.21. Precious metals gained 1% while their miners advanced four times that amount. The Dow Jones Industrial Average and S&P 500 index closed below their respective 34,000 and 4000 levels.
Tuesday, stocks ended unchanged in Europe but rose 1.8% in Asia and 0.4% in the U.S. on 10B shares traded. Precious metals gained 1% while their miners advanced three times that amount. The NASDAQ ended below the 11,000 level. The conference board reported that consumer confidence dipped in November as inflation weighed on budgets.
Wednesday, stocks gained 0.8% in Asia and Europe, and 2.3% in the U.S. on 16B shares traded. The VIX fell 6% to close at 20.58. Precious metals gained 2% and their miners 3%. The Dow, NASDAQ, S&P 500 indices ended above 34,000, 11,000, 4000 respectively. Investors found enough hope in Fed Chairman Powell’s speech to consider it a sign that the pain is ending. The PMI report showed enough weakness to signal a recession is coming soon.
Pending home sales fell off a cliff in the latest report.
Thursday, stocks rose 1.8% in Asia and 0.7% in Europe but ended slightly lower in the U.S. on 12B shares traded. The VIX ended below the 20 pivot point at 19.84 signaling a transition from fear to greed. The 10-Year U.S. Treasury bond yield dropped 5% to close at 3.53. Precious metals gained 2% while their miners advanced 3%.
Friday, stocks fell 0.3% in Asia and in Europe but closed unchanged in the U.S. on 10B shares traded. The VIX fell 4% to end at 19.06. The November payrolls report indicated jobs were much higher than expected. And on the Fauci Flu front, Rand Paul is preparing damning evidence to expose Mr. Fauci and the devastation he has caused. Finally, the Federal Reserve balance sheet declined 36B to 8.59T.