Global Factors influencing ASX stocks on 20 February 2023

On 20 February 2023, at AEDT 01:05 PM, the benchmark index S&P/ASX 200 is trading higher today, gaining 3.60 points or 0.05%, and is currently trading at 7,350.40 levels. Out of 11 sectors, 5 sectors are trading higher along with the S&P/ASX 200. The Financials and Industrials were the top 2 gaining sectors, gaining 0.56% and 0.28% in their index values.

Also read-: Mid-Market: S&P/ASX 200 Trading Lower By 0.13%; Dragged Down By A-REIT And Energy Sectors

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 lower and some ended higher in their previous session. NASDAQ Composite, NASDAQ-100 and S&P 500 declined 0.58%, 0.68% and 0.28% respectively and Dow industrial gained 0.39%.

2. Gold prices remained at a six-week low today, moving little as traders awaited fresh cues on US monetary policy from a slew of Federal Reserve speakers this week and the minutes of the central bank's February meeting.

3. Asian shares opened down as a U.S. holiday slowed trading ahead of the minutes from the previous Federal Reserve meeting and data on core inflation, which might add to the possibility of interest rates remaining higher for longer.

4. Australian supermarkets will profit more in the fiscal 2023 half-year due to decades-high inflation and increasing savings, but economists predict a difficult second half as people grapple with mounting expenses due to higher living costs.

5. Oil prices were little changed in early Asian trade on Monday after settling down to US$2 a barrel on Friday, as surging supply in the United States and prospects of additional interest rate rises dampened confidence about China's demand rebound.

6. Hang Seng is down by 0.19%, and FTSE 100 is down by 0.10%.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com