Stocks Soar as Fear Evaporates

Monday, stocks closed little changed in Asia but rose 0.4% in Europe and 1.0% in the U.S. on 10B shares traded. The VIX fell 7% to close at 19.75 and reenter the greed zone. Apple ended above its 170 benchmark.

Tuesday, stocks lost 0.6% in Asia but gained 0.5% in Europe, and 0.6% in the U.S. on 11B shares traded. The VIX fell 8% to close at 18.14. Precious metals lost 1% and their miners dropped three times that amount. The Dow Jones Industrial average ended the day above its 33,000 benchmark.

Wednesday, stocks gained 1.0% in Asia, 0.7% in Europe, and 0.6% in the U.S. on 11B shares traded. The VIX dropped 7% to end at 16.87.
The 10-Year U.S. Treasury bond yield declined 2% to end at 4.79. The NASDAQ, S&P 500, and NYSE indices ended above their respective 13,000, 4200, and 15,000 levels prompted by encouraging words from the FOMC to hold interest rates steady.

Thursday, stocks rose 1.6% in Asia, 1.5% in Europe, and 2.2% in the U.S. on 12B shares traded. The VIX fell 7% to close at 15.66. The 10-Year U.S. Treasury bond yield declined 3% to end at 4.67. The S&P 500 index closed above its 4300 benchmark.

Friday, stocks closed unchanged in Europe but gained 1.2% in Asia and 0.9% in the U.S. on 12B shares traded. The VIX fell 5% to end at 14.91. The 10-Year U.S. Treasury bond yield fell 2% to end at 4.56. The Dow Jones Industrial Average ended above the 34,000 level. Finally, the Federal Reserve balance sheet declined 41B to 7.87T.

Leave a Reply

Your email address will not be published. Required fields are marked *