Global Factors influencing ASX stocks on 14 April 2023

On 14 April 2023, at AEST 11:45 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 16.00 points or 0.22%, and is currently trading at 7,340.10 levels. Out of 11 sectors, 8 sectors are trading lower along with the S&P/ASX 200. The Information Technology and Consumer Staples were the top 2 gaining sectors, gaining 0.62% and 0.44% in their index values.

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 higher in their previous session. NASDAQ Composite and NASDAQ-100, Dow jones and S&P 500 ended higher 1.99%, 2.03%, 1.14% and 1.33% respectively.

2. Natural gas futures fell for the second day in the previous session, momentarily dipping below the important $2 support as the US government announced the first spring season infusion of gas into storage tanks already swollen from winter underutilization.

3. Oil prices sank a dollar per barrel in the previous session, as an OPEC report fuelled concerns about summer demand and speculators grabbed gains after benchmarks reached multi-month highs the day before.

4. The dollar plummeted to a two-month low versus a basket of currencies and a one-year low against the euro in the previous session after US producer prices unexpectedly declined in March, bolstering predictions that the Federal Reserve is nearing the end of its rate hike cycle.

5. Singapore's economy fell more than predicted in the first quarter of 2023, signalling a poor start to the year as a slump in the country's core manufacturing sector continued while other sectors of the economy also slowed.

6. The Hang Seng is up 0.17% and FTSE 100 is up 0.24%.

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