U.S. Blockade Bolsters Stocks

Monday, stocks lost 0.6% in Asia declined slightly in Europe but advanced 0.9% in the U.S. on 16B shares traded. The Dow ended above 48,000 and the NASDAQ closed above 23,000. The U.S. selective blockade of the Strait of Hormuz removed virtually all remaining leverage Iran had.

Tuesday, stocks rose in 2.3% Asia, 1.0% in Europe, and 0.3% in the U.S. on 18B shares traded. Precious metals gained 4% and their miners advanced half that amount. The S&P 500 and NYSE each closed above their respective 6900 and 23,000 benchmarks. IBM ended above 240.

Wednesday, stocks gained 0.8% in Asia but lost 0.5% in Europe, and 0.3% in the U.S. on 19B shares traded. Precious metals miners fell 3%. The NASDAQ closed above 24,000 while the S&P 500 ended above its 7000 benchmark with each setting a closing record high. but the NYSE ended below its 23,000 benchmark. Apple closed above 260.

Thursday, stocks advanced 1.3% in Asia ended little changed in Europe closed unchanged in the U.S. on 19B shares traded. The NASDAQ and S&P 500 each set record closing highs. IBM ended above its 250 benchmark.

Friday, stocks fell 1.3% in Asia but rose 1.6% in Europe and 1.1% in the U.S. on 21B shares traded. Precious metals gained 2% while their miners advanced 3%. The Dow, S&P 500, and NYSE ended above their respective 49,000, 7100, and 23,000 benchmarks. The NASDAQ and S&P 500 each set record closing highs. Apple ended above 270. For the week, the NASDAQ gained nearly 7%.