2 October 2020 (8:21 am IST)
1 October 2020 (10:50 pm EDT)
- US stock futures turn negative.
- President Trump and the First Lady Melania Trump begin quarantine process
- Close aid of Trump tests positive for coronavirus
Hope Hicks, who has been working so hard without even taking a small break, has just tested positive for Covid 19. Terrible! The First Lady and I are waiting for our test results. In the meantime, we will begin our quarantine process!
— Donald J. Trump (@realDonaldTrump) October 2, 2020
After many ups and downs in this week, world stock markets are tiredly trading for the last session of this week.
US stock markets closed positive in their overnight session, but gains in Dow Jones were restricted to double digits. Nasdaq and S&P 500 had much better numbers in that session.
Today, at the time of writing, every market seems to be negative, as investors book their profits and take money off the table.
US and European stock futures are trading down with considerable negative numbers. All major Asian stock markets are negative too. SGX Nifty is down by 50 points at this hour. Indian stock markets will stay closed today, so SGX Nifty’s trend does not matter.
The biggest news that can upset markets further is coming from the US, where President Trump and the First Lady Melania Trump are going into quarantine after Hope Hicks, a close aid of the President, teste positive for coronavirus.
The US is in the middle of the election process of the next President. This can throw off the presidential debate program as the second debate for US presidential election 2020 was scheduled to take place on October 7.
US stock futures have started turned more negative after these reports.
How To Day Trade:
- Today, all markets are trading negative.
- So we have a single trend in world stock markets, which is downward.
- Day traders should adapt trading strategies that suit a downtrend.
- That is, Sell near resistance and exit near support.
- Continue to follow the trend line as long as it keeps going down.
- Exit your positions when prices breaks the trendline and start rising.
We expect world stock markets to trade negative in this last session of the week. The political happenings in the US will affect world stock markets until the process of the US presidential election 2020 continues. World markets can stay highly volatile and choppy in this duration.