Global Factors influencing ASX stocks on 09 February 2023

On 09 February 2023, at AEDT 1:45 PM, the benchmark index S&P/ASX 200 is trading lower today, declining 31.70 points or 0.42%, and is currently trading at 7,498.40 levels. All 11 sectors are trading lower along with the S&P/ASX 200. The Utilities and Information Technology were the top 2 declining sectors, declining 2.85% and 1.19% in their index values.

Also read-: Mid-Market: S&P/ASX 200 Trading Lower By 0.21%; Tracking Wall Street Losses

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 1.68%, NASDAQ-100 lower by 1.83%, Dow industrial closed down by 0.61%, and S&P 500 closed lower by 1.11%.
2. Gold prices dipped marginally as traders assessed the Fed Reserve's aggressive signals on monetary policy, while copper prices fell further amid mounting concern about a worldwide recession.
3. Oil prices is gaining as hawkish statements from Federal Reserve officials boosted the currency and raised fears about rising interest rates.
4. Asian stocks followed Wall Street down today as a number of Federal Reserve speakers stated that interest rates are poised to rise, limiting risk sentiment.
5. The US dollar was little changed on Thursday as investors anticipated next week's US inflation data and processed remarks from a host of Federal Reserve officials.
6. Hang Seng is up by 0.48%, and FTSE 100 is up by 0.26%.

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