Global Factors influencing ASX stocks on 01 November 2022

On 01 November 2022, at AEDT 12:30 PM, the benchmark index S&P/ASX 200 is trading higher today, gaining 49.20 points or 0.72%, and is currently trading at 6,912.70 levels. Out of 11 sectors, 9 sectors are trading higher along with the gain in the S&P/ASX 200. The Utilities and Materials sectors are the top 2 gaining sectors, gaining 1.54% and 0.95% in their index values.

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

1. Key U.S. indices ended lower in their previous session. NASDAQ Composite, NASDAQ-100, Dow industrial, and S&P 500 declined 1.03%, 1.22%, 0.39%, and 0.75%, respectively.
2. Gold prices hit a 10-day low on today, with larger metal markets losing more ground as the dollar rebounded ahead of a widely expected Federal Reserve interest rate hike.
3. Japan's manufacturing activity grew at its slowest pace in 21 months in October on marked declines in output and overall new orders, as exports were partly hurt by deteriorating situations in China and South Korea.
4. Chicago wheat futures declined today, with the market falling from previous session's highest level in two weeks, as grain shipments continue to flow from Ukraine despite Russia withdrawing from a U.N.-brokered export pact.
5. Hang Seng is down by 3.66%, and FTSE 100 is down by 0.37%.

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