Global Factors influencing ASX stocks on 04 July 2023

On 04 July 2023, at AEST 11:30 AM, the benchmark index S&P/ASX 200 is trading up today, gaining 14.60 points or 0.14%, and is currently trading at 7,256.60 levels. Out of 11 sectors, 6 sectors are trading higher along with the S&P/ASX 200. The Materials and A-REIT sectors were the top 2 gaining sectors, gaining 0.86% and 0.54% in their index values.

Also read: Mid-Market: S&P/ASX 200 Trading Higher By 0.22%; Lifting By Materials And A-REIT Sectors

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 in their previous session. NASDAQ Composite, NASDAQ-100, Dow jones and S&P 500 ended higher by 0.21%, 0.19%, 0.03% and 0.12%, respectively.

2. On Tuesday, oil prices remained stable as the market assessed the impact of production reductions for August by key exporters such as Saudi Arabia and Russia, while considering economic indicators pointing towards sluggish demand for crude oil.

3. In the ongoing battle over access to advanced microchips between Beijing and the United States, China's commerce ministry declared on Monday that it would exercise authority over exporting certain metals extensively utilized in the semiconductor industry. This move represents the latest development in the escalating conflict.

4. On Tuesday, gold prices-maintained stability above important support levels, indicating a further consolidation. However, the precious metal continued to face downward pressure as investors awaited additional signals on monetary policy from the Federal Reserve later in the week.

5. The Hang Seng is up by 2.06% and FTSE 100 is down by 0.06%.

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