Global Factors influencing ASX stocks on 09 May 2023

On 09 May 2023, at AEST 11:50 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 22.40 points or 0.31%, and is currently trading at 7,254.10 levels. Out of 11 sectors, 9 sectors are trading lower along with the S&P/ASX 200. The A-REIT and Energy sectors were the top 2 declining sectors, declining 1.33% and 1.13% in their index values.

Also read: Mid-Market: S&P/ASX 200 Trading Lower By 0.35%; Dragged Down By A-REIT And Energy 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 mixed in their previous session. NASDAQ Composite, NASDAQ-100 and S&P 500 ended higher by 0.18%, 0.25%, and 0.05% and Dow jones closed lower 0.17% respectively.

2. Oil prices are falling today, paring strong gains from the previous two sessions as markets remain cautious ahead of U.S. inflation figures for April which will be key to the Federal Reserve's next interest rate decision.

3. British retail sales growth remained stable in April but high inflation meant shoppers were getting less for their money, and unsettled weather discouraged many from buying summer clothes, according to a British Retail Consortium survey.

4. The dollar marginally higher today following a loans survey exposed that credit conditions in the United States were less depressed than expected, while the pound touched a one-year peak ahead of this week's Bank of England policy meeting.

5. The Hang Seng is down 0.22%, and FTSE 100 is up 0.98%.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com