Global Factors influencing ASX stocks on 04 April 2023

On 04 April 2023, at AEST 11:50 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 6.30 points or 0.09%, and is currently trading at 7,229.30 levels. Out of 11 sectors, 10 sectors are trading higher along with the S&P/ASX 200. The Energy and Consumer Staples were the top 2 gaining sectors, gaining 1.34% and 0.63% in their index values.

Also read Mid-Market: S&P/ASX 200 Trading Higher By 0.17%; Ahead RBA Rate Decision

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 and NASDAQ-100 ended lower 0.27% and 0.25% respectively and Dow Jones and S&P 500 gained 0.98% and 0.37% respectively.

2. Oil benchmarks rose 6% in the previous session, a day after the OPEC+ group shocked markets with intentions to cut additional output, prompting concerns about tighter supplies while some warned of diminished demand if oil refiners baulked at paying higher crude prices.

3. Consumer inflation in South Korea fell to a one-year low in March, falling slightly short of experts' estimates, official data showed on Tuesday.

4. Bonds in Australia and New Zealand rose on Tuesday after overnight advances in Treasuries in response to dismal manufacturing data.

5. Gold is trading over US$2000, as government bond rates prolong a severe drop precipitated by the failure of Silicon Valley Bank.

6. The Hang Seng is down by 0.22% and FTSE 100 is up by 0.54%.

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