Global Factors influencing ASX stocks on 05 October 2023

On 05 October 2023, at AEDT 12:35 PM, the benchmark index S&P/ASX 200 is trading higher today, gaining 3.60 points or 0.07%, and is currently trading at 6,889.70 levels. Out of 11 sectors, 9 are trading higher along with the S&P/ASX 200. The A-REIT and Information Technology sectors were the top 2 gaining sectors, up by 1.33% and 0.87% in their index values.

Also read: Mid-Market: S&P/ASX 200 Trading Higher By 0.14%; Buoyed By A-REIT And Tech Stocks

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, S&P 500, NASDAQ-100, and Dow jones ended higher by 1.35%, 0.81%, 1.45%, 0.39% respectively.

2. On Wednesday, the Dow ended higher, breaking a three-day slump. This occurred as data indicating a significant slowdown in private job growth, the lowest in 32 months, eased concerns. This development lessened fears that the Federal Reserve might not need to raise rates again before the year's end, thereby stopping the recent surge in Treasury yields.

3. In September, South Korea's consumer inflation exceeded market forecasts for the second month in a row, according to official data released on Thursday. The consumer price index rose by 3.7% compared to the previous year, up from a 3.4% increase in August. Economists surveyed by Reuters had anticipated no change in the figure. This marks the second consecutive month of acceleration from a 25-month low of 2.3% in July, representing the fastest annual increase in five months.

4. During Wednesday's evening trading, US stock futures experienced a slight decline. This followed a rebound in major benchmark averages and a decrease in Treasury bond yields, spurred by disappointing ADP employment data. In the upcoming Thursday session, investors will keenly observe trade balance figures, weekly jobless claims, and speeches from key figures including Mester, Barkin, Daly, and Barr.

5. The Hang Seng and FTSE 100 is down by 0.78% and 0.77%.

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