9 January 2019 (8:55 am IST)
8 January 2019 (10:25 pm EST)
U.S. stock markets closed with highly positive numbers in their overnight session, which was very choppy
Today, in early Asia session, global stocks held their breath and waited for the U.S. President Trump’s speech on border security and the ongoing government shutdown. More than his speech, global stocks were worried about how U.S. stock futures will react to the President’s speech.
But thankfully, U.S. stock futures retained their positive numbers even after Trump’s speech and at the time of writing, all markets are trading high in this session. U.S. and European stock futures are nearly half a percent higher. Major Asian stock markets have sinned from 1% – 2% at this hour. SGX Nifty is up by nearly 80 points, indicating a positive opening in Indian stock markets too.
The opening is positive but the intraday trend will be dominate by the trend in U.S. stock futures in world stock markets.
Day traders should trade cautiously with the short term trend in their local markets. This week has been positive but very volatile for global stocks and that trend may continue today also.
U.S. markets have closed positive for the three consecutive days and that has given some support to local stocks. But markets are still cautious and any change in U.S. stock futures may see a similar change in global stocks too.