Global Factors influencing ASX stocks on 03 January 2023

On 03 January 2023, at AEDT 12.30 PM, the benchmark index S&P/ASX 200 is trading lower today, declining 109.10 points or 1.55%, and is currently trading at 6,929.60 levels. All 11 sectors are trading lower along with the S&P/ASX 200. The Information Technology and Financial sectors are the top 2 declining sectors, lower 1.99% and 1.94% in their index values.

Also read-: Mid-Market: S&P/ASX 200 Sharply Lower By 1.44%; All 11 Sectors Are Trading In Red Zone

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

1. Some key U.S. indices ended lower in their previous session. NASDAQ Composite ended lower by 0.11%, NASDAQ-100 lower by 0.10%, Dow industrial down by 0.22%, and S&P 500 closed down by 0.25%.
2. Singapore's economy grew 3.8% in 2022, beating government expectations but slower than the previous year.
3. Brazil posted a $62.3 billion trade surplus in 2022, a record that started in 1989. Higher prices of certain commodities favoured the country's exports.
4. German government bond yields fell from their highest levels in over a decade. Investors hoped inflation would show a further decline.
5. The dollar rose from recent six-month lows against a basket of major currencies. It had weakened as markets hoped a Federal Reserve tightening cycle might be nearing an end.
6. Gold prices rose to a six-month high amid market hopes that the Federal Reserve will slow its rate hikes even further.
7. Hang Seng is up by 0.20%, and FTSE 100 is down by 0.81%.

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