Global Factors influencing ASX stocks on 04 August 2023

On 04 August 2023, at AEST 11:30 AM, the benchmark index S&P/ASX 200 is trading flat today, and is currently trading at 7,311.20 levels. Out of 11 sectors, 7 sectors are trading lower along with the S&P/ASX 200. The Health Care and Information Technology sectors were the top 2 declining sectors, down by 1.74% and 1.08% in their index values.

Also read: Mid-Market: S&P/ASX 200 Trading Flat; ANZ Rises After ACCC Rejects Its Acquisition of SUN’s Banking Arm               

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

1. Key U.S. indices ended lower in their previous session. NASDAQ Composite, NASDAQ-100, S&P 500, and Dow jones ended lower by 0.10%, 0.11%, 0.25%, and 0.19% respectively.

2. On Friday, gold prices experienced a slight increase as traders remained cautious in anticipation of crucial labour data that could impact U.S. monetary policy. Meanwhile, copper witnessed some buying interest in anticipation of further signals regarding Chinese stimulus measures.

3. Experiencing a second consecutive day of growth, oil prices were on the rise on Friday, poised for their sixth consecutive week of increase. This came after Saudi Arabia and Russia, ranking as the world's second and third-largest crude producers, committed to reducing output throughout the upcoming month.

4. Thursday's trading session saw U.S. stocks closing with little change as investors grappled with fluctuating Treasury yields, considering the latest economic data and earnings reports.

5. The Hang Seng and FTSE 100 is down by 0.49% and 0.43%.

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