It has been another day of small losses for stock markets, as investors wait for Tesla earnings to liven up the week, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.
Stock markets continue to drift
The lack of enthusiasm among investors to chase this market is palpable. At least we have Tesla earnings tonight to liven things up, and which will help inject a bit of excitement into the market. Even Lloyds has been unable to hold on to its gains after today’s results, with the shares drifting into the red as the day has gone on.
Too many macro events to worry about?
Even once Tesla is out tonight, markets may struggle to make any meaningful progress. Even without thinking about the US election, which is impossible to ignore, the upcoming payrolls report and Fed decision in coming weeks provide two additional hurdles to navigate. While volatility hasn’t exactly spiked, it still feels like there is a nasty surprise lurking just around the corner.
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