13 September 2019 (8:36 am IST)
12 September 2019 (11:05 pm EDT)
After a highly volatile previous session in US and European stock markets, global stocks have started the Asia session with mildly positive and a subdued trend.
The European Central Bank’s stimulus program was perhaps not what markets were expecting and it was greeted with a muted reaction for US and European stock markets. Then rumors spread that the US was considering an interim trade deal with China. That triggered a jump in stocks but then this quickly turned into negative numbers when the White House categorically denied that any such interim deal was being considered. Basically, bigger markets didn’t know what was happening and after much senseless trading, these markets closed moderately positive.
Today, US and European stock futures are slightly positive at the time of writing, but there is no certainty that the intraday trend will be positive too. Asian stock markets are also trading with mild gains. SGX Nifty is slightly negative, indicating no recovery from yesterday’s negative trend.
Expect world stock markets to trade with high volatility and mixed numbers, as the much-hyped ECB stimulus has failed to lift markets’ spirits. Markets are expected to trade more on their technical signals in the absence of any strong global trend.