Market sentiment is expected to be subdued as investors wait for the outcome of the US presidential election.
Lower liners may remain lackluster as most of the investors stay on the sidelines.
Still, the recent pullback is deemed attractive to attract bargain hunting for longer-term investment horizon perspective.
Energy sector watch
Besides the US presidential election on 5 Nov, market will monitor closely the Federal Reserve’s interest rate decision on 7 Nov.
The CME FedWatch tool currently shows 99.7% probability of a 25bps cut in the upcoming meeting.
The Energy sector may some see buying interest as OPEC+ delayed their planned increase of 180k barrels per day output in December by another month. Volatility in the market may persist until the election outcome. – Apex Research
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