AI Mania Lifts Tech Stocks

Monday, stocks rose 0.7% in Asia but closed unchanged in Europe and the U.S. on 10B shares traded.

Tuesday, stocks fell 0.9% in Asia, 0.6% in Europe, and 1.0% in the U.S. on 10B shares traded. The VIX moved up 8% to close at 18.53.

Wednesday, stocks lost 0.8% in Asia, 1.7% in Europe, and 1.0% in the U.S. on 10B shares traded. The VIX rose 8% to end at a neutral 20.03. Precious metals fell 1% and their miners dropped twice that amount. The Dow Jones Industrial Average ended below its 33,000 benchmark.

Thursday, stocks fell 1.1% in Asia, slightly in Europe, and 0.7% in the U.S. on 11B shares traded. The VIX moved back to the greed zone with a close at 19.57. The 10-Year U.S. Treasury bond yield gained 2% to end at 3.79. Precious metals fell 1% and their miners dropped twice that amount. The NYSE index ended below its 15,000 level.

Friday, stocks gained 0.8% in Asia, 1.2% in Europe, and 0.8% in the U.S. on 10B shares traded. The VIX rose 6% to close at 18.01. Precious metals ended 1% higher. The Dow, S&P 500, and NYSE closed above their respective 33,000, 4200, and 15,000 levels. Finally, the Federal Reserve balance sheet declined 21B to 8.44T.

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