Global Factors influencing ASX stocks on 19 June 2023

On 19 June 2023, at AEST 02:25 PM, the benchmark index S&P/ASX 200 is trading up today, gaining 43.80 points or 0.60%, and is currently trading at 7,294.00 levels. Out of 11 sectors, 9 sectors are trading higher along with the S&P/ASX 200. The Healthcare and Utilities sectors were the top 2 gaining sectors, gaining 1.69% and 1.43% in their index values.

Also read: Mid-Market: S&P/ASX 200 Trading Higher By 0.28%; Buoyed by Healthcare

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, S&P 500, NASDAQ-100, and Dow jones ended lower by 0.68%, 0.37%, 0.67%, and 0.32% respectively.

2. To revive China's struggling economy and prevent deflation, the People's Bank of China is expected to reduce its one-year and five-year loan prime rates (LPR) by 10 basis points each, resulting in 3.55% and 4.20%, respectively.

3. On Monday, President Joe Biden is set to visit Palo Alto, California, where he will make a significant announcement regarding climate investments. According to a White House official, the announcement will involve over $600 million in funding to assist coastal communities nationwide in their efforts to combat climate change.

4. U.S. stock futures showed positive performance during Sunday evening's trading, building on a strong week for major benchmark averages. Investor sentiment was buoyed by easing Consumer Price Index (CPI) data and a pause in Federal Reserve policymaker actions.

5. The Hang Seng and FTSE 100 is up 1.07% and 0.19%.

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