Global Factors influencing ASX stocks on 03 May 2023

On 03 May 2023, at AEST 11:56 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 90.40 points or 1.24%, and is currently trading at 7,177.30 levels. All 11 sectors are trading lower along with the S&P/ASX 200. The Energy and Financial were the top 2 declining sectors, declining 2.34% and 1.48% in their index values.

Also read: Mid-Market: S&P/ASX 200 Sharply Lower By 0.83%; Tracking Wall Street

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 1.08%, 0.89%, 1.08% and 1.16% respectively.
2. Oil prices moved little in Asian trade today as traders hunkered down before the conclusion of a Federal Reserve meeting, although fears of worsening economic conditions left prices wallowing at five-week lows.
3. Gold is trading above $2,000 an ounce today as talk about a potential U.S. debt default gathered pace amid head-butting between Republican lawmakers and the Biden administration on how much to raise the congressional limit by to pay for America’s obligations.
4. U.S. job openings fell for a third straight month in March and layoffs increased to the highest level in more than two years, suggesting some softening in the labour market that could aid the Federal Reserve's fight against inflation.
5. The Hang Seng is down 1.24%, and FTSE 100 is down 1.24%.

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