Global factors influencing ASX stocks on 10 January 2023

On 10 January 2023, at AEDT 12:40 PM, the benchmark index S&P/ASX 200 is trading lower today, declining 14.90 points or 0.21%, and is currently trading at 7,136.40 levels. All 11 sectors are trading lower along with the S&P/ASX 200. The Industrials and Health Care are the top 2 declining sectors, declining 0.91% and 0.88% in their index values.

Also read-: Mid-Market: S&P/ASX 200 Trading Lower By 0.35%; All 11 Sectors Trading In Red

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

1. Some key U.S. indices ended higher, and some ended lower in their previous session. NASDAQ Composite ended higher by 0.63%, NASDAQ-100 closed higher by 0.62%, Dow industrial down by 0.34%, and S&P 500 closed lower by 0.08%.
2. Oil prices rose by 1% in the previous session as investors hope that China's reopening its economy from strict COVID policies will boost oil consumption.
3. Natural gas rose more than 5% after the three weeks of losses that left prices down more than 50% since November's close.
4. According to a survey of recruiters published, Britain's labor market cooled further in December, which may ease some of the Bank of England's concerns about the risks of longer-term inflation pressure.
5. Tokyo's Consumer inflation rose more than expected in December as the country struggled with high raw material costs and a weakened yen.
6. South Korea reported its third month of current account deficit amid high energy import costs at a time of shrinking exports.
7. Hang Seng is up by 1.89%, and FTSE 100 is up by 0.33%.

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