Global Factors influencing ASX stocks on 13 September 2023

On 13 September 2023, at AEST 10:38 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 44.30 points or 0.61%, and is currently trading at 7,162.60 levels. Out of 11 sectors, 8 sectors are trading lower along with the S&P/ASX 200. The Information Technology and Industrials sectors were the top 2 declining sectors, down by 1.63% and 0.69% in their index values.

Also read: Mid-Market: S&P/ASX 200 Trading Lower By 0.63%; Dragged Down by Industrials

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

1. Some of the key U.S. indices ended lower in their previous session. NASDAQ Composite, S&P 500, NASDAQ-100, and Dow jones ended lower by 1.04%, 0.57%, 1.11%, and 0.05% respectively.

2. According to a report from the petroleum industry group API, there is a potential increase of 1.2 million barrels in U.S. crude oil inventories for the recently concluded week. This marks the first rise in five weeks and is accompanied by indications of elevated stockpiles in fuel products like gasoline and distillates.

3. Data released on Wednesday revealed that Japan's annual wholesale inflation has decelerated in August, marking the eighth consecutive monthly slowdown. This development provides a measure of relief to households and retailers who had previously grappled with significant increases in the cost of raw material imports.

In August, the Corporate Goods Price Index (CGPI), which gauges the prices that companies charge each other for their products and services, increased by 3.2% compared to the same month in the previous year, aligning with the median market projection.

4. On Tuesday, the Dow Jones Industrial Average closed slightly down, with Apple being the primary driver of the tech sector's decline, despite unveiling its latest iPhone. However, a surge in energy stocks helped limit the overall losses, all of this occurring a day before the release of new inflation data.

5. The Hang Seng is down by 0.39% and FTSE 100 is up by 0.41%.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com