Global Factors influencing ASX stocks on 21 March 2023

On 21 March 2023, at AEDT 12.45 PM, the benchmark index S&P/ASX 200 is trading higher today, gaining 86.90 points or 1.26%, and is currently trading at 6,985.40 levels. Out of 11 sectors, 9 sectors are trading higher along with the S&P/ASX 200. The Energy and Financial were the top 2 gaining sectors, gaining 2.08% and 1.81% in their index values.

Also read-:  Mid-Market: S&P/ASX 200 Trading Higher By 1.38%; Mirroring Wall Street

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 0.39%, 0.34%, 1.20% and 0.89% respectively.

2. Oil prices gained more than 1% in the previous session after falling to their lowest levels in 15 months due to market concerns that uncertainties in the global banking sector might cause a recession, reducing fuel consumption.

3. The Fed will likely stick with the safe 0.25% and fulfil market expectations of a quarter-point raise later this week. The risk of pausing inflation to reaccelerate is too great to bear, especially given the current upheaval in the banking industry.

4. The dollar recovered some ground on Tuesday but remained close to a five-week low as traders retreated into riskier assets following UBS' state-backed credit Suisse purchase, which eased worries of a wider, systemic banking catastrophe.

5. Hang Seng is up by 0.62%, and FTSE 100 is up by 0.93%.

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