Fed Ends Bloated Balance Sheet Runoff

Monday, stocks gained 2.1% in Asia, 0.3% in Europe, and in the U.S. on 20B shares traded. Precious metals fell 3% and their miners dropped 4%. The Dow, NASDAQ, S&P 500, and NYSE indices each posted a record closing high. IBM ended above its 310 benchmark.

Tuesday, stocks fell 0.4% in Asia, declined slightly in Europe, and lost 0.5% in the U.S. on 21B shares traded. Precious metals miners gained 2%. The Dow, NASDAQ, and S&P 500 indices each logged another record closing high.

Wednesday, stocks rose 0.8% in Asia, ended unchanged in Europe, and fell 0.8% in the U.S. on 21B shares traded. The NASDAQ recorded another record closing high. IBM ended below its 310 benchmark. The FOMC lowered interest rates 0.25% and reported an end to the bloated balance sheet runoff.

Thursday, stocks declined 0.3% in Asia, closed little changed in Europe, and lost 0.4% in the U.S. on 21B shares traded. Precious metals rose 2% and their miners gained 3%. Apple and IBM closed above their respective 270 and 310 levels.

Friday, stocks fell 0.3% in Asia and 0.5% in Europe but closed unchanged in the U.S. on 21B shares traded. IBM ended below its 310 benchmark.

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