It was a bullish month for most world equity markets, with net monthly changes ranging from +9.4% (India), +4.3% (China), +3.6% (Russia), +2.9% (Japan), +2.1% (Australia), +1.9% (Germany), +1.2% (USA), +0.3% (South Africa), -0.1% (Hong Kong), to -2.5% (Brazil).
Lets take our regular look at ten of the world equity markets.
USA - Dow
The mighty Dow climbed for the sixth month of eight, breaking a new historic high of 35631, settling +425pts (1.2%) to 35360. Monthly momentum ticked lower for a third consecutive month. I would note first major support of the 10MA at 32734.
Germany – DAX
Japan – Nikkei
Brazil – Bovespa
Russia - RTSI
India – SENSEX
China – Shanghai comp'
South Africa – Dow
Hong Kong – Hang Seng
Australia – AORD
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Summary
Eight world equity markets were net higher for August, with two net lower.
India and China lead the way up, whilst Hong Kong and Brazil were net lower.
The US, German, Indian, and Australian markets broke new historic highs.
Most markets settled above their respective monthly 10MA, the exceptions being Japan and Hong Kong.
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Looking ahead
It will be a short four day trading week, with Monday CLOSED for Labor day. The schedule is distinctly light, which will give the market time to reflect on some of the grander issues.
Earnings:
M -
T - COUP, CASY
W - GME, LULU, RH
T - LOVE, ZS
F - KR
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Econ-data:
M - *CLOSED*
T -
W - JOLTS, Fed Beige book (2pm)
T - Weekly jobs, EIA Pet' & Nat' gas
F - PPI, Wholesale invent'
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Final note
The collective of world equity markets remain broadly m/t bullish from the collapse lows of March 2020. Ongoing low/zero/negative rates and QE from the various central banks is clearly part of the reason. There is some genuine degree of economic recovery, but many aspects (such as air travel) remain at very depressed levels.
There are two key concerns. First, a severe geo-political 'event'. I'm sure you can think of a few. The second aspect is health, and that is all I can note about that on these Google based pages.
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Enjoy the long weekend
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*the next post on this page will likely appear 5pm EST on Tuesday, Sept'7th
