Global Factors influencing ASX stocks on 09 January 2024

On 09 January 2024, at AEDT 11:50 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 74.10 points or 0.99%, and is currently trading at 7,525.60 levels. All 11 sectors are trading higher along with the gain in the S&P/ASX 200. The Information Technology and A-REIT sectors are the top 2 gaining sectors, gaining 2.02% and 1.35% in their index values.

Also Read: Mid-Market: S&P/ASX 200 Sharply Higher By 1.08%; Mirroring Strong Gains From US Markets

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 Jones and S&P 500 gained 2.20%, 2.11%, 0.58% and 1.41%, respectively.

2. Tokyo core consumer price index (CPI) inflation- which excludes volatile fresh food prices, rose at an annualized 2.1% in December, and now within spitting distance of the Bank of Japan’s annual target, likely heralding a similar trend from nationwide inflation.

3. Shares of Nvidia surged to a record high close on Monday after the world's most valuable chipmaker unveiled new desktop graphics processors taking advantage of artificial intelligence.

4. Oil prices fell over 3% on Monday on sharp price cuts by top exporter Saudi Arabia and a rise in OPEC output that offset supply concerns generated by rising geopolitical tension in the Middle East.

5. Hang Seng is down by 1.88%, and FTSE 100 is up by 0.06%.

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