Global Factors influencing ASX stocks on 13 March 2023

On 13 March 2023, at AEDT 01:15 PM, the benchmark index S&P/ASX 200 is trading lower today, declining 32.20 points or 0.45%, and is currently trading at 7,112.50 levels. Out of 11 sectors, 9 sectors are trading lower along with the S&P/ASX 200. The A-REIT and Information Technology were the top 2 declining sectors, declining 1.80% and 1.46% in their index values.

Also read-: Mid-Market: S&P/ASX 200 Is Trading Lower; Despite Gold Miners Gained

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

1. Key U.S. indices ended lower in their previous session. NASDAQ Composite, NASDAQ-100, Dow Jones and S&P 500 declined 1.76%, 1.38%, 1.07% and 1.45% respectively.

2. Oil prices rose more than 1% in the previous session following better-than-expected US employment data, but both benchmarks fell more than 3% on the week due to concerns about a rate hike in the United States.

3. The U.S. dollar slid today as authorities stepped in to cap the fallout from the sudden collapse of Silicon Valley Bank, with investors hoping the Federal Reserve will take a less aggressive monetary path.

4. China reported unexpectedly strong credit growth for February, with the money supply expanding at the fastest pace in nearly seven years. Beijing looks to support a nascent economic recovery amid rising global risks.

5. U.S. stock futures rose in Asian trade on Monday after the government announced plans to limit the fallout from the failure of Silicon Valley Bank (SVB), while investors bet that future rate hikes in the United States would be less aggressive.

6. The Hang Seng is up 1.15% and FTSE 100 is down by 1.67%.

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