Global Factors influencing ASX stocks on 13 October 2022

On 13 October 2022, at AEDT 12:30 PM, the benchmark index S&P/ASX 200 is trading higher today, gaining 26.80 points or 0.40%, and is currently trading at 6,674.30 levels. Out of 11 sectors, 7 sectors are trading lower despite the gain in the S&P/ASX 200. The Financial and Industrials sectors are the top 2 gaining sectors, gaining 2.09% 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 ended lower in their previous session. NASDAQ Composite, NASDAQ-100, Dow industrial, and S&P 500 slipped 0.09%, 0.05%, 0.10% and 0.33%, respectively.
2. Aluminium prices are gaining today following a report that the U.S. is planning to ban imports from Russia. At the same time, gold stabilized ahead of key U.S. inflation data due later in the day.
3. Former Federal Reserve vice chairman Richard Clarida said he expects the central bank to increase interest rates to a range of 4.5% to 5% and leave them there for a “long time”.
4. U.K. government’s long-term bonds yields hit their highest since 2002 after Bank of England Governor Andrew Bailey stated that pension funds had three days to fix liquidity problems before the bank finished emergency bond-buying that provided support.
5. Oil prices are slightly higher before key U.S. inflation data due later in the day, while a worsening outlook for crude demand kept sentiment muted.
6. Hang Seng is down by 0.40%, and FTSE 100 is down by 0.86%.

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