Investor Hope Springs Eternal

Monday, fell 0.5% stocks in Asia but rose 0.9% in Europe and 1.0% in the U.S. on 11B shares traded. Precious metals and their miners gained about 1%. The NYSE index closed above the 18,000 level. Here’s a perspective to balance out the present stock market euphoria.

Tuesday, stocks gained 1.2% in Asia but declined slightly in Europe and lost 0.4% in the U.S. on 10B shares traded.

Wednesday, stocks advanced slightly in Asia but declined 0.5% in Europe, and 0.3% in the U.S. on 11B shares traded. The 10-Year U.S. Treasury bond yield rose 2% to end at 4.32. The NYSE index ended below the 18,000 level. Apple ended above its 210 benchmark.

Thursday, stocks fell 0.5% in Asia and 0.4% in Europe but ended little changed in the U.S. on 11B shares traded. Precious metals and their miners gained 1%. The NYSE index closed above the 18,000 level.

Friday, stocks rose 0.3% in Asia but fell slightly in Europe and ended little changed in the U.S. on 19B shares traded as the first half of the trading year came to an end. Finally, the Federal Reserve balance sheet declined 22B to 7.23T.