It was a very mixed month for world equity markets, with net monthly changes ranging from +15.9% (Argentina), +6.3% (Brazil), +2.1% (Germany), +1.8% (USA), +1.5% (South Africa), +0.8% (India), -0.04% (Australia), -1.2% (Japan), -3.3% (China), to -10.0% (Russia).
Lets take our regular look at ten of the world equity markets.
USA - Dow
Germany – DAX
Japan – Nikkei
Brazil – Bovespa
Russia - MOEX
India – SENSEX
China – Shanghai comp'
South Africa – Dow
Argentina - MerVal
Australia – AORD
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Summary
Six world equity markets were net higher for August, with four net lower.
Argentina lead the way up, whilst Russia was very powerfully lower.
New historic highs: USA, Germany, Brazil, India, South Africa, Argentina, Australia
Eight markets have positive monthly momentum, and are trading above their respective monthly 10MA. The two exceptions being Russia and China.
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Looking ahead
It will be a short four day trading week, with Monday CLOSED for Labor day.
Earnings:
M - *CLOSED*
T - $MOMO $ZS $GTLB $ASAN $HQY $SPWH $OS $PD
W - $DKS $DLTR $HRL $CIEN $CNM $CRMT $CURV $JILL $KNOP $DAKT $AI $HPE $CHPT $CASY $CRDO $CXM $CPRT $AVAV $VRNT $BBCP
T - $NIO $FCEL $TTC $SAIC $LE $GILL $KFY $MEI $MOV $SCVL $AVGO $PATH $IOT $DOCU $PL $BRZE $NX $ZUMZ $SMAR $TLYS
F - $BIG $ABM $BRC $GCO $DODO
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Econ-data/events:
M - *CLOSED*
T - PMI/ISM manu', construction
W - Intl' trade, JOLTS, factory orders, Fed beige book (2pm)
T - ADP jobs, Weekly jobs, productivity, PMI/ISM serv'
F - Monthly jobs,
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Final note
Considering the seven historic highs, it should be seen as a net bullish month for world equities.
September through October will typically favour the equity bears, not least ahead of an election. I'd accept, the latter is an issue solely for the USA. In any case... we'll likely need a fair amount of popcorn and drinks into November 5th.
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Enjoy the holiday weekend
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*the next post on this page will likely appear 4.20pm EDT on Tuesday, September 3rd.
