Global Factors influencing ASX stocks on 18 January 2024

On 18 January 2024, at AEDT 11:50 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 38.00 points or 0.51%, and is currently trading at 7,355.10 levels. All 11 sectors are trading lower along with the decline in the S&P/ASX 200. The A-REIT and Energy sectors are the top 2 declining sectors, declining 1.69% and 1.31% in their index values.

Also Read: Mid-Market: S&P/ASX 200 Trading Lower By 0.73%; All 11 Sectors Are Trading In Red Zone

On that note, let us look at a few global reasons impacting the stock market today.

1. Key U.S. indices ended lower in their previous session. NASDAQ Composite, NASDAQ-100, Dow industrial, and S&P 500 declined 0.59%, 0.56%, 0.25%, and 0.56%, respectively.

2. The US markets closed lower for the third-straight session as Treasury yields continued to advance to put the squeeze on tech after stronger-than-expected economic data muddied investor expectations for a Federal Reserve March rate cut.

3. U.S. crude stockpiles unexpectedly increased last week, the API reported, at a time when concerns about demand continue to rise following weaker growth from China.

4. Oil prices are flat as severe cold that disrupted some U.S. oil production offset disappointing economic growth in China that stoked worries about energy demand.

5. Hang Seng is down by 3.71%, and FTSE 100 is down by 1.48%.

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