Global Factors influencing ASX stocks on 13 June 2023

On 13 June 2023, at AEST 11:45 AM, the benchmark index S&P/ASX 200 is trading flat today, and is currently trading at 7,124.20 levels. Out of 11 sectors, 9 sectors are trading higher along with the S&P/ASX 200. The Information Technology and A-REIT sectors were the top 2 gaining sectors, gaining 1.58% and 0.88% in their index values.

Also read: Mid-Market: S&P/ASX 200 Trading Higher By 0.18%; Buoyed By Tech Stocks

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, S&P 500, NASDAQ-100, and Dow jones ended higher by 1.53%, 0.93%, 1.76%, and 0.56% respectively.

2. Iranian President Ebrahim Raisi, while visiting Caracas, stated their mutual aim to boost bilateral trade from US$3 billion to US$20 billion. Additionally, the visit resulted in the signing a memorandum of understanding to expand collaboration in petrochemicals, capitalizing on their existing cooperation in the oil sector.

3. According to a survey conducted on Tuesday, consumer sentiment in Australia took a negative turn following an unexpected rise in interest rates this month. Concerns among consumers have heightened due to the potential for increased unemployment and further warnings about future rate hikes.

4. On Monday, leaders of the Senate Commerce Committee, including Chair Maria Cantwell (Democrat) and top Republican Ted Cruz, introduced a bipartisan aviation policy bill. The proposed legislation is a US$107 billion five-year Federal Aviation Administration (FAA) reauthorization bill.

5. The Hang Seng and FTSE 100 is up 0.07% and 0.11%.

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