Global Factors influencing ASX stocks on 08 December 2022

On 08 December 2022, at AEDT 12:25 PM, the benchmark index S&P/ASX 200 is trading lower today, declining 52.50 points or 0.73%, and is currently trading at 7,176.90 levels. Out of 11 sectors, 7 sectors are trading lower along with the S&P/ASX 200. The Energy and Industrial are the top 2 declining sectors, lower by 2.52% and 1.09% in their index values.

Also read-: Mid-Market: S&P/ASX 200 Trading Lower By 0.62%; Downer EDI Limited Declined More Than 20%

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 and some ended lower in their previous session. NASDAQ Composite closed lower 0.51%, NASDAQ-100 ended lower 0.45%, Dow closed flat and S&P 500 ended lower 0.19%.
2. Oil prices fell to its lowest level since January after U.S. government data showed an unexpectedly large build in fuel stocks, feeding fears about demand in a market already spooked by an uncertain economy.
3. Central Bank of Brazil hold interest rate 13.75% for the third consecutive policy decision after a 12 consecutive hike.
4. The US dollar fell against major currencies due to a hike in interest rates may bring recession in the US economy.
5. The UK house prices fell amid demand, and sales activity slowed due to high borrowing costs.
6. Japan posted an unexpected current account deficit in October amid a decline in exports, increased import costs, and high inflation pressure on the economy.
7. Hang Seng is down by 3.22%, and FTSE 100 is down by 0.43%.

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