Global Factors influencing ASX stocks on 07 December 2022

On 07 December 2022, at AEDT 12:37 PM, the benchmark index S&P/ASX 200 is trading lower today, declining 68.50 points or 0.94%, and is currently trading at 7,222.80 levels. Out of 11 sectors, 9 sectors are trading lower along with the S&P/ASX 200. The Information Technology and Energy are the top 2 declining sectors, lower by 2.43% and 1.66% in their index values.

Also read-: Mid-Market: S&P/ASX 200 Trading Lower By 0.88%; Amid Heavy Sell-off

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 2.00%, 2.01%, 1.03% and 1.44% respectively.
2. U.S. Oil inventories fell by more than 6.4 million barrels for the week ended Dec. 2, more than expected.
3. According to the Data from the Australian Bureau of Statistics, Australia’s real gross domestic product (GDP) rose 0.6% in the third quarter, compared with 0.9% the previous quarter and just under forecasts of 0.7%.
4. Gold prices declined below key levels today as investors awaited more cues on the global economy from a swathe of readings due this week, while a recovery in the dollar also kept metal markets subdued.
5. Japan’s sentiment index for large manufacturers rose for the first time in the last four months, and the service sector index hit a three-year high.
6. Mexico's auto parts production rose by 13%, touching a record high of nearly $107 billion, which is a key driver for the country's manufacturing sector.
7. U.S. and Britain informed the market an energy supply partnership to boost the liquefied natural gas (LNG) supply to Britain to reduce their dependence on Russian energy.
8. The US dollar goes up slightly amid the prediction of interest hikes by the Federal Reserve.
9. Hang Seng is trading flat and FTSE 100 is down by 0.61%.

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