Global Factors influencing ASX stocks on 12 October 2022

On 12 October 2022, at AEDT 12:30 PM, the benchmark index S&P/ASX 200 is trading higher today, gaining 8.80 points or 0.13%, and is currently trading at 6,653.80 levels. Out of 11 sectors, 7 sectors are trading lower despite the gain in the S&P/ASX 200. The Financial and A-REIT sectors are the top 2 gaining sectors, gaining 1.33% and 0.65% 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 were closed mixed in their previous session. NASDAQ Composite, NASDAQ-100, and S&P 500 slipped 1.12%, 1.24%, and 0.65%, but Dow industrial closed higher by 0.12%, respectively.
2. Gold prices are slightly lower as investors avoided big bets ahead of key U.S. inflation data this week, while the minutes of the Federal Reserve's September meeting was also in focus.
3. Oil prices are declining for a third straight session today as investors worried about a hit to fuel demand from rising global recession risks and tightening COVID-19 curbs in China.
4. South Korea's central bank raised interest rates by 50 basis points to 3.00% for a second time since July on today, bringing the total rates hike since August last year to 250 basis points.
5. World Bank and International Monetary Fund warned on Tuesday about the brink of recession and threatening financial market stability due to colliding pressures from inflation, war-driven energy and food crises, and sharply higher interest rates.
6. Hang Seng is down by 2.23%, and FTSE 100 is down by 1.06%.

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