Stocks Take an AI Breather

Monday, stocks rose 1.8% in Asia, ended little changed in Europe, and fell 0.7% in the U.S. on 15B shares traded. IBM closed below its 240 benchmark.

Tuesday, stocks fell 1.1% in Asia and 0.8% in Europe but rose 0.4% in the U.S. on 17B shares traded. Precious metals miners gained 2%. IBM ended above 240.

Wednesday, stocks declined 0.3% in Asia, ended little changed in Europe, and advanced slightly in the U.S. on 15B shares traded. Apple closed above its 230 benchmark. The S&P 500 recorded a record closing high.

Thursday, stocks ended little changed in Asia and Europe but ended up slightly in the U.S. on 15B shares traded. Precious metals gained 1%. The S&P 500 closed above 6500. The Dow, S&P 500, and NYSE notched record closing highs.

Friday, stocks fell 0.4% in Asia and 0.7% in Europe but ended little changed in the U.S. on 15B shares traded. The VIX ended up 6%. Precious metals gained 1% and their miners advanced about three times that amount. The S&P 500 closed below 6500. For the week, stocks ended little changed as less than stellar earnings from NVIDIA cooled investor optimism.

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