Global Factors influencing ASX stocks on 06 December 2022

On 06 December 2022, at AEDT 12:34 PM, the benchmark index S&P/ASX 200 is trading lower today, declining 12.20 points or 0.17%, and is currently trading at 7,313.40 levels. Out of 11 sectors, 8 sectors are trading lower along with the S&P/ASX 200. The Information Technology and Energy are the top 2 declining sectors, lower by 1.55% and 0.63% in their index values.

Also read-: Mid-Market: S&P/ASX 200 Trading Lower By 0.20%; Taking Direction From Wall Street

On that note, let us look at a few global reasons impacting the stock market today.

1. The key U.S. indices ended lower in their previous session. NASDAQ Composite, NASDAQ-100, Dow industrial and S&P 500 declined by 1.93%, 1.73%, 1.40% and 1.79% respectively.
2. Oil prices dropped more than 3% amid the prediction that the US Federal Reserve would continue to increase interest rates aggressively.
3. Japan’s household expenditure is reduced following the rising inflation, which reduces the spending capacity of the consumer.
4. EU countries are negotiating with the European commission to cap the gas price to pull down the high energy costs.
5. Gold dropped below $1800, following the dollar ramped up on the prediction of an increase in interest rate by the US Federal Reserve.
6. The dollar rebounded against Yen, Euro, and pound, after data showed that U.S. services industry activity unexpectedly picked up in November, increasing speculation that the Federal Reserve may lift interest rates more than recently projected.
7. Hang Seng is up by 4.51%, and FTSE 100 is up by 0.15%.

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