Global Factors influencing ASX stocks on 18 April 2023

On 18 April 2023, at AEST 11:25 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 26.80 points or 0.36%, and is currently trading at 7,354.70 levels. Out of 11 sectors, 10 sectors are trading lower along with the S&P/ASX 200. The Energy and Health Care were the top 2 declining sectors, declining 1.41% and 0.79% in their index values.

Also read: Mid-Market: S&P/ASX 200 Trading lower By 0.36%; Worries Over The Economic Outlook  

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 0.28%, 0.06%, 0.30% and 0.33% respectively.

2. Oil prices were flat in early trade on Tuesday after sliding 2% the previous session, with markets searching for evidence of economic rebound and growth in China to counter weaker demand elsewhere.

3. The dollar rose in the previous session, reversing a wave of negative wagers that had lately brought it to one-year lows, as some on Wall Street believe betting on Fed rate cuts and a soft landing had reached a fork in the road.

4. China's GDP likely increased in the first quarter, according to statistics anticipated on Tuesday, as the end of stringent COVID restraints pushed the world's second-largest economy out of a devastating economic downturn, albeit certain challenges remain.

5. Gold prices remained below critical levels in early Asian trade on Tuesday, weighed down by a stronger dollar and higher Treasury rates as investors reassessed prospects for a pause in the Federal Reserve's interest rate rises.

6. The Hang Seng is up 1.68% and FTSE 100 is up 0.10%.

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