Global Factors influencing ASX stocks on 10 November 2023

On 10 November 2023, at AEDT 12:50 PM, the benchmark index S&P/ASX 200 is trading lower today, declining 41.40 points or 0.59%, and is currently trading at 6,973.80 levels. Out of 11 sectors, 10 sectors are trading lower along with the S&P/ASX 200. The Utilities and Financial sectors are the top 2 declining sectors, declining 1.36% and 0.97% in their index values.

Also read-: Mid-Market: S&P/ASX 200 Trading Lower By 0.70%; After FED Reserve Boss Jerome Powell Pushed Back On Rate Cut Bets

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

1. Key U.S. indices ended lower in their previous session. NASDAQ Composite, NASDAQ-100, Dow Industrial, and S&P 500 gained 0.94%, 0.82%, 0.65%, and 0.81%, respectively.

2. U.S. Markets closed lower in the previous session, as Federal Reserve chairman Jerome Powell dealt a blow to bets on sooner rather later rate cuts after signalling that the Fed isn't ready to close the curtain on rate hikes.

3. Peru's central bank lowered its benchmark interest rate by 25 basis points to 7.00% on Thursday, as the monetary authority in the Andean nation continues to ease borrowing costs in an effort to help claw its way out of a recession.

4. Gold prices declined to a more-than three-week low on Thursday, extending a rash of recent losses after several Federal Reserve officials warned against bets that the central bank was done raising interest rates.

5. Oil prices rose in the previous session, recovering from near four-month lows although concerns over a slowdown in global crude demand remain.

6. Hang Seng is down by 0.10%, and FTSE 100 is up by 0.59%.

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