Global Factors influencing ASX stocks on 04 January 2023

On 04 January 2023, at AEDT 12.35 PM, the benchmark index S&P/ASX 200 is trading higher today, gained 84.40 points or 1.22%, and is currently trading at 7,030.60 levels. Out of 11 sectors, 10 sectors are trading higher along with the S&P/ASX 200. The information Technology and Financial sectors are the top 2 gaining sectors, gained 2.00% and 1.65% in their index values.

Also read-: Mid-Market: S&P/ASX 200 Trading Higher By 1.08%; Buoyed By IT and Consumer Discretionary Sectors

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 0.76%, NASDAQ-100 closed lower by 0.70%, Dow industrial down by 0.03%, and S&P 500 ended lower by 0.40%.
2. Oil prices fell by 4%, stressed by weak demand data from China, a gloomy economic outlook, and a stronger U.S. dollar.
3. The dollar rose before Federal Reserve releases minutes from its December meeting, while the euro was dented by moderating inflation data.
4. Japanese factory activity fell sharply in 26 months amid a global economic slowdown.
5. The U.S. investment-grade primary bond market is falling as companies take advantage of a favourable market window to get ahead of more volatility and a possible economic recession.
6. Hang Seng is up by 1.84%, and FTSE 100 is up by 1.37%.

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