Global Factors influencing ASX stocks on 15 March 2023

On 15 March 2023, at AEDT 12:57 PM, the benchmark index S&P/ASX 200 is trading higher today, gaining 17.80 points or 0.25%, and is currently trading at 7,026.40 levels. Out of 11 sectors, 8 sectors are trading higher along with the S&P/ASX 200. The Information Technology and Materials sectors were the top 2 gaining sectors, gaining 1.79% and 0.53% in their index values.

Also read-: Mid-Market: S&P/ASX 200 Trading Higher By 0.26%; Buoyed By IT And Materials Sectors

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 and NASDAQ-100, Dow Jones and S&P 500 gained 2.14%, 2.32%, 1.06%, and 1.65% respectively.

2. Gold prices fell slightly toady after slipping from a six-week high the previous session, as a mixed figure on US inflation fuelled some confusion about the Federal Reserve's stance on monetary policy, but fears of a financial crisis in the country remained.

3. Oil prices fell more than 4% to a three-month low in the previous session, as US inflation data and recent bank failures fuelled worries of a new financial crisis, which might cut future oil demand.

4. South Korea's unemployment rate has returned to a record low, primarily due to increasing employment among persons aged 60 and over. Meanwhile, falling exports and a slow housing market have yet to impact payrolls severely.

5. British employers agreed to pay raises averaging 5.0% in the three months to the end of January, significantly above historical averages, according to a study released on Wednesday. A tight labour market indicates pay settlements are expected to continue high.

6. The Hang Seng is up 1.72% and FTSE 100 is up by 1.17%.

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