It was a bearish month for most world equity markets, with net monthly changes ranging from -10.7% (Russia), -7.5% (Hong Kong), -3.8% (India), -3.7% (USA, Germany, Japan), -1.5% (Brazil), -0.7% (Australia), +0.5% (China), to +0.6% (South Africa).
Lets take our regular look at ten of the world equity markets.
USA - Dow
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 lower for November, with two net higher.
Russia and Hong Kong lead the way lower, whilst China and South Africa were moderately net higher.
The US and German markets broke new historic highs.
The US, Russian, Indian, Chinese, and Australian markets are holding above their respective monthly 10MA, whilst the German, Japanese, Brazilian, South African, and Hong Kong markets are below.
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Looking ahead
The schedule is pretty light, but we do have the latest CPI print, and that will merit serious attention, as it will shape policy for the final FOMC of the year (Dec'14/15).
Earnings:
M - COUP, GTLB
T - AZO, CHPT, SFIX, TOLL, CASY
W - LOVE, CPB, GME, RH
T - HRL, CIEN, LULU, CHWY, COST, AVGO, ORCL, AOUT, MTN
F -
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Econ-data:
M -
T - Intl' trade, product/costs, consumer credit
W - JOLTS, EIA Pet'
T - Weekly jobs, wholesale invent'
F - CPI, consumer sent', US T-Budget
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| Winter solstice is nearing |
Final note
November was a tough month for the collective of world equities, and December hasn't started so great. There is the natural concern of yet another C19 variant, but the mainstream are also concerned about the fed.
As I'll continue to note, I do NOT fear the QE taper, nor even a couple of rate hikes. The real concern should be on whether inflation itself remains restrained, or spirals out of control >10%. The latter does appear a threat by next spring, not least as we have widespread systemic breaks in the global supply chain.
There are just 19 trading days left of 2021, and regardless of how we settle the year, my thoughts are more on 2022.
For details, and the latest offers: https://www.tradingsunset.com
Have a good weekend
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*the next post on this page will likely appear 5pm EST on Monday.
