Global Factors influencing ASX stocks on 21 November 2023

On 21 November 2023, at AEDT 12:50 PM, the benchmark index S&P/ASX 200 is trading higher today, gaining 16.80 points or 0.24%, and is currently trading at 7,075.80 levels. Out of 11 sectors, 9 sectors are trading lower despite the gain in the S&P/ASX 200. The Materials and Energy sectors are the top 2 gaining sectors, gaining 1.69% and 0.33% in their index values.

Also read-: Mid-Market: S&P/ASX 200 Trading Higher By 0.22%; Lifted by Materials and Energy

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, NASDAQ-100, Dow Industrial, and S&P 500 gained 1.13%, 1.19%, 0.58%, and 0.74%, respectively.

2. US markets closed higher on Monday, ahead of the release of minutes from the Federal Reserve's September meeting and earnings from Nvidia that will likely set the tone for big tech in a holiday-shortened week.

3. The U.S. dollar declined to its lowest in more than two months on Monday on anticipations that U.S. interest rates have peaked, while Wall Street's three major stock indexes closed at multi-month highs.

4. On Wall Street, the S&P 500 finished up and the Nasdaq gained 1.2% as Microsoft rallied to a record high after the software giant hired Sam Altman for a new venture following his shock dismissal as chief executive of OpenAI, the maker of ChatGPT.

5. Hang Seng is up by 0.89%, and FTSE 100 is down by 0.11%.

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