Global Factors influencing ASX stocks on 03 January 2024

On 03 January 2024, at AEDT 11:55 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 80.70 points or 1.06%, and is currently trading at 7,547.10 levels. All 11 sectors are trading lower along with the decline in the S&P/ASX 200. The Information Technology and Consumer Discretionary sectors are the top 2 declining sectors, declining 1.70% and 0.98% in their index values.

Also Read: Mid-Market: S&P/ASX 200 Trading Lower By 0.97%; Mirroring US Market Losses

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

1. Key U.S. indices ended mixed in their previous session. NASDAQ Composite, NASDAQ-100, and S&P 500 declined 1.63%, 1.68%, and 0.57%, respectively. However, Dow industrial gained by 0.07%.

2. Apple Inc. on Tuesday fell nearly 3.6% to a seven-week low after Barclays downgraded the shares of the world's most valuable company on worries that demand for its devices from the iPhone to the Mac will remain weak in 2024.

3. Oil prices closed the first trading session of 2024 lower as expectations for interest rate cuts waned and on easing concerns that tensions in the Red Sea will disrupt supplies.

4. Stocks in Europe and on Wall Street fell in their previous session, along with prices for U.S. government debt, on ebbing market optimism about timely interest rate cuts from the Federal Reserve.

5. Hang Seng is down by 1.52%, and FTSE 100 is down by 0.15%.

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