Global Factors influencing ASX stocks on 02 December 2022

On 02 December 2022, at AEDT 12:45 PM, the benchmark index S&P/ASX 200 is trading lower today, losing 38.00 points or 0.52%, and is currently trading at 7,316.40 levels. Out of 11 sectors, 6 sectors are trading lower along with the S&P/ASX 200. The Energy and A-REIT are the top 2 declining sectors, declining 1.81% and 1.60% in their index values.

Also read-: Mid-Market: S&P/ASX 200 Sharply Lower By 0.69%; Dragged Down By A-REIT And Energy Sectors

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 mixed in their previous session. NASDAQ Composite ended higher by 0.13%, NASDAQ-100 ended higher by 0.10%, Dow industrial ended lower by 0.56%, and S&P 500 ended lower by 0.09, respectively.
2. Gold prices rose around multi-month highs as markets hunkered down ahead of key U.S. payrolls data that could factor into the path of monetary policy, while copper stuck to a two-week high on hopes of a Chinese reopening.
3. Brazil posted a record trade surplus. It reached $6.7 billion in November, more than the expectations of $5 billion surplus.
4. The dollar index has dropped to 16-month lows against other major currencies amid inflation data and the expectation that Fed will slower the pace of interest rate hikes.
5. South Korea‘s inflation slowed to 5% in November compared to the last month with 5.7%. Inflation is falling after hitting a twenty-four-year high of 6.3%.
6. Hang Seng is trading flat, and FTSE 100 is down by 0.19%.

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