Stock Price Inflation Continues

Monday, stocks rose 0.6% in Asia and slightly in Europe but fell 0.3% in the U.S. on 13B shares traded. Precious metals and their miners gained 1%. The Dow ended below its 40,000 benchmark. The NASDAQ marked a record high close. Apple closed above 190.

Tuesday, stocks lost 0.7% in Asia and declined slightly in Europe but closed unchanged in the U.S. on 12B shares traded. The NASDAQ and S&P 500 indices each recorded a record high close. IBM closed above its 170 benchmark.

Wednesday, stocks ended unchanged in Asia but fell 0.4% in Europe and 0.6% in the U.S. on 14B shares traded. Precious metals fell 3% and their miners lost 4%.

Thursday, stocks ended little changed in Asia and Europe but fell 1.1% in the U.S. on 14B shares traded. Precious metals and their miners declined 2%. Apple ended below its 190 level.

Friday, stocks fell 0.9% in  Asia declined slightly in Europe but gained 0.5% in the U.S. on 11B shares traded. The VIX fell 7% to end at 11.92. The S&P 500 index closed above its 5300 benchmark. The NASDAQ  posted another record high close. Here’s another indication that foreign countries continue to move away from the dollar. Finally, the Federal Reserve balance sheet declined 4B to 7.30T.