Global Factors influencing ASX stocks on 02 May 2023

On 02 May 2023, at AEST 11:34 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 12.30 points or 0.17%, and is currently trading at 7,322.30 levels. All 11 sectors, 8 sectors are trading lower along with the S&P/ASX 200. The Industrials and Consumer Staples were the top 2 declining sectors, declining by 0.75% and 0.68% in their index values.

Also read: Mid-Market: S&P/ASX 200 Trading Lower By 0.24%; Dragged Down By Energy And Industrials 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 lower in their previous session. NASDAQ Composite, NASDAQ-100, Dow jones and S&P 500 ended lower 0.11%, 0.11%, 0.14% and 0.04% respectively.
2. Gold prices moved little on Tuesday, hovering well below important levels as anticipation of a likely interest rate hike by the Federal Reserve supported the dollar and dented demand for the yellow metal.
3. U.S. President Joe Biden on Monday summoned the four top congressional leaders to the White House next week after the Treasury warned the government could run short of cash to pay its bills by June.
4. Oil prices are declining marginally in early Asian trade as the market digests weak economic data from China and expectations of another U.S. interest rate hike.
5. The Hang Seng is up 0.27%, and FTSE 100 is up 0.50%.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com