Monday, stocks closed little changed in Asia and Europe, and the U.S. on 15B shares traded.
Tuesday, stocks fell 0.3% in Asia, rose 0.7% in Europe, and ended unchanged in the U.S. on 16B shares traded. Precious metals fell 1% and their miners lost three times that amount. IBM ended above its 240 benchmark.
Wednesday, stocks lost 1% in Asia but gained 0.3% in Europe and advanced slightly in the U.S. on 16B shares traded. Precious metals gained 1% and their miners gained three times that amount. Apple closed below 230.
Thursday, stocks ended unchanged in Europe but fell slightly in Asia and the U.S. on 13B shares traded. The VIX rose 6% to end at 16.60. Precious metals miners gained 2%. IBM closed below 240.
Friday, stocks closed unchanged in Asia but ended up 0.3% in Europe, and 1.6% in the U.S. on 18B shares traded. The VIX fell 14% to end at 14.22. Precious metals and their miners closed up 2%. The 10-Year U.S. Treasury bond yield fell 2% to end at 4.26. IBM closed above 240. The Dow, S&P 500, and NYSE closed above their respective 45,000, 6400, and 21,000 benchmarks. The Dow and NYSE ended the week at record closing highs. This insanity was fueled by remarks at Jackson Hole by Chairman Powell interpreted by many to nearly assure a rate cut in the next FOMC meeting in September.