Global Factors influencing ASX stocks on 17 March 2023

On 17 March 2023, at AEDT 12:57 PM, the benchmark index S&P/ASX 200 is trading higher today, gaining 4.70 points or 0.07%, and is currently trading at 6,970.30 levels. Out of 11 sectors, 4 sectors are trading higher along with the S&P/ASX 200. The Energy and Financials were the top 2 gaining sectors, gaining 1.12% and 0.29% in their index values.

Also read-: Mid-Market: S&P/ASX 200 Is Marginally Higher By 0.08%; Lifted By Energy And Financials 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 2.48%, 2.69%, 1.17% and 1.76% respectively.

2. Gold prices were steady in early Asian trade on Friday, heading for their best week in two months as worries of a financial crisis fuelled safe-haven demand.

3. Singapore's non-oil domestic exports (NODX) declined 15.6% year on year in February, led by declines in electronic and non-electronic items, and were roughly in line with expert estimates.

4. European stocks gained as the European Central Bank boosted interest rates and American jobless statistics came in lower than expected.

5. U.S. stocks climbed in the previous session over major U.S. banks pumped US$30 billion in deposits into First Republic Bank, rescuing the institution caught up in a spreading crisis prompted by the failures of two other mid-size U.S. lenders.

6. The Hang Seng is up 1.23% and FTSE 100 is up by 0.89%.

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