Global Factors influencing ASX stocks on 11 November 2022

On 11 November 2022, at AEDT 12:30 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 188.60 points or 2.71%, and is currently trading at 7,152.60 levels. All 11 sectors are trading higher along with the S&P/ASX 200. The Information Technology and A-REIT sectors are the top 2 gaining sectors, gaining 4.75% and 4.45% in their index values.

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 industrial, and S&P 500 gained 7.35%, 7.49%, 3.70%, and 5.54%, respectively.
2. Japan's wholesale prices rose 9.1% in October from a year earlier, slowing from the previous month's record gain but remaining at high levels as the weak yen continued to inflate the cost of raw material imports for companies.
3. Gold prices stuck to a 2.5-month high today and were set for their best week in over eight months as signs of cooling U.S. inflation drove up hopes that the Federal Reserve will trim its pace of interest rate hikes in the coming months..
4. The yields on benchmark Australian 10-year government bonds have tumbled 14 basis points to 3.59% on the back of the cooler-than-expected U.S. inflation print for October.
5. Wall Street rallied in the previous session as softer-than-expected U.S. inflation data spurred bets that the Federal Reserve would slow the pace of its aggressive policy tightening.
6. Hang Seng is down by 1.70%, and FTSE 100 is up by 1.08%.

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