Global Factors influencing ASX stocks on 07 February 2023

On 07 February 2023, at AEDT 12:16 PM, the benchmark index S&P/ASX 200 is trading higher today, gaining 9.30 points or 0.13%, and is currently trading at 7,548.50 levels. Out of 11 sectors, 7 sectors are trading higher along with the S&P/ASX 200. The Energy and Utilities were the top 2 gaining sectors, gaining 1.01% and 0.84% in their index values.

Also read-: Mid-Market: S&P/ASX 200 Trading Higher By 0.14%; Buoyed By Energy And Utilities Sectors

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 ended lower by 1.00%, NASDAQ-100 lower by 0.87%, Dow industrial fell by 0.10%, and S&P 500 closed down by 0.61%.
2. Gold prices steadied at a near one-month low as the dollar strengthened and Treasury yields rose.
3. Japan's nominal pay expanded at the quickest rate in almost 26 years with strong winter bonuses, and real wages increased in December for the first time since March despite increasing inflation.
4. Australia's trade balance decreased more than anticipated in December, due to a decline in the exports of mining and mineral fuels, while a modest rise in imports was attributed to a rise in demand for international travel.
5. Japan's foreign reserves increased to $1.25 trillion at the end of January.
6. Hang Seng is up by 0.42%, and FTSE 100 is down by 0.82%.

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