Global Factors influencing ASX stocks on 05 May 2023

On 05 May 2023, at AEST 11:45 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 5.30 points or 0.04%, and is currently trading at 7,187.30 levels. Out of 11 sectors, 5 sectors are trading lower along with the S&P/ASX 200. The Materials and Consumer Discretionary sectors were the top 2 losing sectors, declining 0.42% and 0.21% in their index values.

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 0.49%, 0.37%, 0.86% and 0.72% respectively.

2. Oil prices steadied on Friday, but were set for their worst weekly drop in nearly two months amid fears of slowing U.S. economic growth and a softer-than-expected rebound in Chinese demand.

3 Gold prices hovered below record highs today as traders locked in a measure of recent profits, with markets remaining cautious ahead of key U.S. labor data that is widely expected to factor into monetary policy.

4. Wall Street ended lower in the previous session after PacWest's move to explore strategic options extended fears about the health of U.S. lenders and hit shares of regional banks.

5. The Hang Seng is up 0.56%, and FTSE 100 is down 0.10%.

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