Global Factors influencing ASX stocks on 11 January 2023

On 11 January 2023, at AEDT 12:42 PM, the benchmark index S&P/ASX 200 is trading higher today, gaining 58.60 points or 0.82%, and is currently trading at 7,189.60 levels. Out of 11 sectors, 9 sectors are trading higher along with the S&P/ASX 200. The Materials and Energy are the top 2 gaining sectors, gaining 1.89% and 0.84% in their index values.

Also read-: Mid-Market: S&P/ASX 200 Trading Higher By 0.83%; Lifted By Materials And Consumer Discretionary Sectors

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

1. Some key U.S. indices ended higher in their previous session. NASDAQ Composite ended higher by 1.01%, NASDAQ-100 closed higher by 0.88%, Dow industrial up by 0.56%, and S&P 500 ended higher by 0.70%.
2. South Korea's unemployment rate hit an 11-month high in December 2022, while the annual increase in employed people marked the smallest in 21 months.
3. Brazil's inflation slowed sharply from double-digit peaks, following the fiscal measures and an aggressive monetary policy tightening, but still missed the government's official target.
4. Global economies expected to slow sharply in 2023 amid inflation, according to the latest assessment by the World Bank.
5. The dollar was rangebound on Tuesday, as traders awaited U.S. inflation data later this week to help firm up interest rate hike expectations.
6. Hang Seng is up by 0.62%, and FTSE 100 is down by 0.39%.

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