Global Factors influencing ASX stocks on 01 May 2023

On 01 May 2023, at AEST 11:45 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 46.30 points or 0.63%, and is currently trading at 7,355.50 levels. All 11 sectors are trading higher along with the S&P/ASX 200. The Healthcare and Energy were the top 2 gaining sectors, gaining 1.54% and 1.42% in their index values.

Also read: Mid-Market: S&P/ASX 200 Trading Higher By 0.68%; All 11 Sectors Are In Green

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

1. Some of the key U.S. indices ended higher in their previous session. NASDAQ Composite, NASDAQ-100, Dow jones and S&P 500 ended higher 0.69%, 0.65%, 0.80% and 0.83% respectively.

2. China's manufacturing activity unpredictably contracted in April, raising pressure on policymakers seeking to boost an economy struggling for a post-COVID lift-off amid subdued global demand and persistent property weakness.

3. Oil prices declined today as fears over the prospect of the U.S. Federal Reserve raising interest rates combined with weaker Chinese manufacturing data to erase earlier gains.

4. Japan's factory activity contracted for the sixth straight month in April, but the data of a private survey showed the manufacturing sector was edging towards stabilisation amid a slower decline in new orders.

5. The Hang Seng is up 0.27%, and FTSE 100 is up 0.50%.

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