Global Factors influencing ASX stocks on 16 November 2022

On 16 November 2022, at AEDT 12:36 PM, the benchmark index S&P/ASX 200 is trading lower today, declining 34.10 points or 0.48%, and is currently trading at 7,107.50 levels. Out of 11 sectors, 6 sectors are trading lower along with the S&P/ASX 200. The Financial and Consumer Discretionary sectors are the top 2 losing sectors, declining 1.29% and 1.29% 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 higher in their previous session. NASDAQ Composite, NASDAQ-100, Dow industrial, and S&P 500 gained 1.45%, 1.45%, 0.17%, and 0.87%, respectively.
2. NATO member Poland said today that a Russian-made rocket killed two people in eastern Poland near Ukraine, and it summoned Russia's ambassador to Warsaw for an explanation after Moscow denied it was responsible.
3. Australian wages grew slightly more than anticipated in the September quarter to a 10-year high, data showed today, as heightened labor demand and low unemployment drove up salaries in private sector firms.
4. U.S. producer prices increased less than expected in October as services fell for the first time in nearly two years, contributing more evidence that inflation was beginning to subside, potentially allowing the Federal Reserve to slow its aggressive pace of interest rate hikes.
5. Wall Street ended higher on softer-than-expected inflation data that raised hopes of a pullback in rate hikes by the U.S. Federal Reserve.
6. Hang Seng is up by 4.11%, and FTSE 100 is down by 0.21%.

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