Shift Continues from High Flyers

Monday, stocks gained 0.7% in Asia but lost 0.4% in Europe, and 1.0% in the U.S. on 19B shares traded. The VIX rose 10% to close at 21.01 and retreat back to the fear zone. Precious metals and their miners advanced 4%. IBM plummeted to end below its 230 level on news of AI replacing its COBAL cash cow.

Tuesday, stocks rose 0.3% in Asia, slightly in Europe, and 0.7% in the U.S. on 18B shares traded. The VIX fell back 7% to end at 19.55 and reenter the greed zone. Precious metals fell 2%. Apple ended above 270.

Wednesday, stocks ended up 1% in Asia, little changed in Europe, and up 0.4% in the U.S. on 18B shares traded. The VIX fell 8% to end at 17.93. The NYSE ended at a record high. IBM above 230.

Thursday, stocks ended little changed in Europe, but advanced 1.2% in Asia, and 0.3% in the U.S. on 20B shares traded. Precious metals gained 1% and their miners rose 2%. IBM ended above its 240 level. The NYSE ended at a record high.
Friday, stocks ended little changed in Asia, Europe, and the U.S. on 11B shares traded. The VIX rose 7% to end at 19.86. Precious metals gained 3%, and their miners rose 2%. The Dow ended below 49,000.

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