Stock futures are muted in early trading as investors await the outcome of the US midterm elections. The election results could significantly impact the power dynamic in Washington. That could have important consequences on a number of important policies including US-China trade negotiations.
Accordingly, most investors are taking a wait and see approach. Moreover, there isn’t much other news driving markets currently.
Asian shares are up today as investors hope trade negotiations will move forward once the election is over. A couple of the notable moves across Asia today:
- Japan’s NIKKEI 500 Index rose 0.84%;
- The Shanghai Composite Index fell 0.23%;
- Hong Kong’s Hang Seng Index is up 0.72%;
- South Korea’s KOSPI Index moved 0.61% higher;
- India’s SENSEX is trading sideways;
European stock markets are trading sideways. A look at some of Europe’s top indices shows:
- London’s FTSE Index is down 0.11%;
- The German DAX Index is trading sideways;
- The FTSE Italia All Shares Index down 0.65%;
- The French CAC 40 Index is down 0.15% at the open.
European stock markets will continue to focus on issues within their own markets such as the Brexit negotiations and the Turkish Lira Crisis. Additionally, European investors are keeping a close eye on developments in Italy as investors have become fearful of potential anti-EU measures by the new government.
US Futures Are Trading Down Slightly in Pre-Market Action
The U.S. stock market is not moving strongly in either direction in pre-market trading. Specifically, the NASDAQ and the S&P 500 futures are down 0.22% and 0.13%, respectively.
Finally, investors will continue to take their cues from the news cycle heading. Indeed, any new developments in the Trump legal morass or global trade disputes could see it drive markets in either direction.