It was a mixed month for world equity markets, with net monthly changes ranging from +12.1% (Argentina), +11.9% (Russia), +4.4% (Japan), +1.4% (Germany), +0.8% (China), +0.5% (India), -0.7% (South Africa), -3.2% (Australia), -4.3% (Brazil), to -5.3% (USA).
It was a bullish year for most world equity markets, with net annual changes ranging from +172.7% (Argentina), +19.9% (Japan), +18.8% (Germany), +12.9% (USA), +12.7% (China), +9.6% (South Africa), +8.7%
(India), +7.5% (Australia), -7.1% (Russia), to -10.2% (Brazil).
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
Argentina - MerVal
Australia – AORD
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December Summary
Six world equity markets were higher for December, with four net lower.
Argentina lead the way up, whilst the USA was powerfully lower.
Eight world equity markets broke new historic highs, the two exceptions being Russia and China
Seven world equity markets are trading above their respective monthly 10MA, the three exceptions being Brazil, Russia, India.
Six world equity markets have positive monthly momentum, the four exceptions being Japan, Brazil, Russia, and India
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2024 Summary
Eight world equity markets were net higher for the year, with two net lower.
Argentina lead the way up, whilst Brazil and Russia were very powerfully lower.
Eight world equity markets broke new historic highs, the two exceptions being Russia and China
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Final note
It was a net bullish month, to end what was a a net bullish year. Perhaps more than anything, I'd keep in mind eight of the ten markets printed new historic highs in December.
The collective of world equities are mid/long term bullish, and that certainly includes the US equity market. Whilst the Dow was net lower for December, that was from a new historic high. Until the Dow sees a monthly settlement under the monthly 10MA (around 41500 as of Jan'2 2025), the bulls need not have any sleepless nights.
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*the next post on this page will likely appear 4.20pm EST on Thurs' Jan'2nd 2025
