Global Factors influencing ASX stocks on 03 February 2023

On 03 February 2023, at AEDT 12:58 PM, the benchmark index S&P/ASX 200 is trading higher today, gaining 28.20 points or 0.38%, and is currently trading at 7,539.80 levels. Out of 11 sectors, 9 sectors are trading higher along with the S&P/ASX 200. The Health Care and A-REIT are the top 2 gaining sectors, gaining 2.01% and 1.80% in their index values.

Also read-: Mid-Market: S&P/ASX 200 Trading Higher By 0.40%; Buoyed By Healthcare And A-REIT 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 higher and some ended lower in their previous session. NASDAQ Composite closed higher by 3.25%, NASDAQ-100 higher by 3.56%, Dow industrial lower by 0.11%, and S&P 500 higher by 1.47%, 1.59%, 1.09%, and 1.46%, respectively.
2. Gold prices edged up today after falling dramatically from nine-month highs in the previous session as the dollar recovered ahead of important nonfarm payrolls data.
3. In January, Japan's services sector activity rose at its strongest rate in three months, but deteriorating inflation and employment patterns indicate to problems ahead as policymakers bet on the country's economic reopening to boost demand.
4. Indonesia's economic growth is likely to have slowed in the fourth quarter due to falling commodity and energy prices hit exports, and a widely anticipated global recession might exacerbate the slowdown this year.
5. The Euro and Sterling fell against the dollar as markets interpreted policymakers from the European Central Bank and the Bank of England as dovish.
6. Hang Seng is down by 0.63%, and FTSE 100 is up by 0.76%.

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