Global Factors influencing ASX stocks on 09 January 2023

On 09 January 2023, at AEDT 12:35 PM, the benchmark index S&P/ASX 200 is trading higher today, gaining 54.20 points or 0.76%, and is currently trading at 7,163.80 levels. Out of 11 sectors, 10 sectors are trading higher along with the S&P/ASX 200. The Martials and Industrials are the top 2 gaining sectors, gained 1.39% and 1.31% in their index values.

Also read-: Mid-Market: S&P/ASX 200 Trading Higher By 1.01%; 10 Out Of 11 Sectors Are Trading In Green

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

1. Key U.S. indices ended higher in their previous session. NASDAQ Composite, NASDAQ-100, Dow industrial, and S&P 500 gained 2.56%, 2.78%, 2.13%, and 2.28%, respectively.
2. China is resuming coal trade with Australia after a three-year halt following strained relations between the two countries over wider issues.
3. Gold prices gained to a seven-month high after signs of a cooling jobs market pushed up prospects for a softer U.S. inflation reading this week and an eventual turn in the Federal Reserve’s hawkish rhetoric. 
4. China is recommencing coal trade with Australia after a 3-year standstill following stressed relations between the two countries over broader issues.
5. Asian markets are set to open the week with a spring in their step today after rising hopes of a soft U.S. landing and optimism surrounding China's re-opening after its 'zero-Covid' policy.
6. Hang Seng is down by 0.29%, and FTSE 100 is up by 0.87%.

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