7 October 2019 (8:14 am IST)
6 October 2019 (10:43 pm EDT)
World stock markets have started this new week with negative numbers as the US-China trade talks resume this week. Markets will remain cautious, especially US stock markets. This week’s lower start indicates that cautious traders are booking some profits from the last week’s closing rally.
Although the numbers are red, on technical charts, the lower opening will still keep US stocks rangebound. That trend will be followed by global stocks. For day trading, small traders should remember the last week’s trend and compared this session’s pattern against that before they start trading.
At the time of writing, almost all major Asian stock markets are down. SGX Nifty is flat, waiting for the pre-open numbers in the Indian stock markets. US and European stock futures are considered negative, showing that these bigger markets will trade within the previous session’s range.
Expect world stock markets to trade within the weekly range and face much volatility. The trend will be dominated by news reports and will remain uncertain until the US-China trade talks reach any conclusion.