Global Factors influencing ASX stocks on 13 February 2023

On 13 February 2023, at AEDT 12:58 PM, the benchmark index S&P/ASX 200 is trading lower today, declining 16.10 points or 0.22%, and is currently trading at 7,417.60 levels. Out of 11 sectors, 7 sectors are trading lower along with the S&P/ASX 200. The Consumer Discretionary and Industrials were the top 2 declining sectors, declining 0.98% and 0.88% in their index values.

Also read-: Mid-Market: S&P/ASX 200 Trading Lower By 0.31%; Weighed Down By Industrials And Consumer Discretionary Sectors

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

1. Key U.S. indices ended mixed in their previous session. NASDAQ Composite, NASDAQ-100 declined 0.61%, 0.62% and Dow industrial and S&P 500 gained 0.50% and 0.22%, respectively.

2. Gold prices declined to near one-month lows today as traders anticipated further clues about the US economy from critical inflation data coming this week, while copper prices suffered significant losses on mounting anxiety about China's economic recovery.

3. New bank loans in China increased more than expected in January to a record 4.9 trillion yuan as the central bank seeks to jumpstart the world's second-largest economy following the easing of stringent credit controls.

4. The dollar stayed at a five-week high versus major peers, as expectations for more Federal Reserve policy tightening grew ahead of a key consumer price report.

5. Asian shares fell today as investors braced for U.S. inflation and retail sales data, which may shock the global interest rate outlook while calming or accelerating the current bond yield increase.

6. Hang Seng is down by 1.02%, and FTSE 100 is down by 0.36%.

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