Global Factors influencing ASX stocks on 06 April 2023

On 06 April 2023, at AEST 12:15 PM, the benchmark index S&P/ASX 200 is trading lower today, declining 18.30 points or 0.25%, and is currently trading at 7,218.90 levels. Out of 11 sectors 7 sectors are trading lower along with the S&P/ASX 200. The information Technology and A-Reit were the top 2 declining sectors, declining 1.39% and 1.18% in their index values.

Also read: Mid-Market: S&P/ASX 200 Trading Flat; ING And NVX Are Top Declining 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 lower and some ended higher in their previous session. NASDAQ Composite, NASDAQ-100 and S&P 500 ended lower 1.07%, 1.01%, 0.25% respectively and Dow jones ended higher 0.24% respectively.

2. Oil prices fell in early Asian trade on Thursday as dismal job openings data in the United States suggested that the economy is cooling, which might reduce demand.

3. The Reserve Bank of India is widely expected to hike its benchmark rate for the seventh consecutive meeting on today, leaving the door open for further rises to bring inflation back within its target range.

4. The dollar rose in the previous session, recovering from two-month lows the day before. Speculators reduced their short positions to book gains ahead of Friday's crucial non-farm payrolls report in the United States.

5. Australia established a record trade surplus of AU$13.9 billion in February, exceeding predictions of AU$11.1 billion, as imports fell by 9.1%.

6. The Hang Seng is down 0.13% and FTSE 100 is up 0.37%.

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