Investors Rotate to Small Cap Stocks

Monday, stocks ended unchanged in Asia, fell 1.0% in Europe, and closed little changed in the U.S. on 11B shares traded. The VIX moved up 5% to end at 13.17. The Dow Jones Industrial Average, NYSE, and Apple logged record closing highs.

Tuesday, stocks lost 0.3% in Asia and Europe but gained 1.4% in the U.S. on 12B shares traded. Precious metals moved up 2% and their miners advanced about twice that amount. The Dow Jones Industrial Average, S&P 500 and NYSE indices, and Apple logged record closing highs.

Wednesday, stocks closed unchanged in Asia but fell 0.5% in Europe, and 0.4% in the U.S. on 13B shares traded. The VIX rose 10% to close at 14.48. Precious metals and their miners fell 2%. The Dow Jones Industrial Average closed above the 41,000 level and record. The S&P 500 closed below the 5600 benchmark.

Thursday, stocks fell 1.2% in Asia, 0.3% in Europe, and 1.1% in the U.S. on 13B shares traded. The VIX advanced another 10% to close at 15.93. The Dow Jones Industrial Average closed below the 41,000 level.

Friday, stocks lost 1.5% in Asia, 0.7% in Europe, and 0.6% in the U.S. on 11B shares traded. Precious metals fell 2%. For the week, cryptocurrencies gained 10%, the NASDAQ fell nearly 4%, and small caps rallied about 2% Finally, the Federal Reserve balance sheet declined 16B to 7.21T.

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