Global Factors influencing ASX stocks on 01 February 2023

On 01 February 2023, at AEDT 01:08 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 33.80 points or 0.45%, and is currently trading at 7,510.20 levels. Out of 11 sectors, 8 sectors are trading higher along with the S&P/ASX 200. The Materials and A-REIT are the top 2 gaining sectors, gaining 1.04% and 1.03% in their index values.

Also read-: Mid-Market: S&P/ASX 200 Trading Higher By 0.45%; Led By A-REIT And Materials Sectors

On that note, let us look at a few global reasons impacting the stock market today.

1. Key U.S. indices ended higher in their previous session. NASDAQ Composite, NASDAQ-100, Dow industrial, and S&P 500 up by 1.67%, 1.59%, 1.09%, and 1.46%, respectively.
2. Gold and copper prices dropped slightly today as markets anticipated fresh signals on monetary policy from a string of major central bank meetings this week, starting with the Federal Reserve.
3. South Korea  posted a record monthly trade deficit for January, mainly due to exports dropped more than expected, prompting the government to commit to all available resources to boost international sales.
4. Japan's factory activity fell for the third month in a row in January, despite manufacturers' optimism about improving supply and price circumstances.
5. Hang Seng is up by 0.36%, and FTSE 100 is down by 0.17%.

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