Global Factors influencing ASX stocks on 22 November 2022

On 22 November 2022, at AEDT 03:05 PM, the benchmark index S&P/ASX 200 is trading higher today, gaining 50.90 points or 0.71%, and is currently trading at 7,190.20 levels. Out of 11 sectors, 9 sectors are trading higher along with the S&P/ASX 200. The Energy and Materials sectors are the top 2 gaining sectors, gaining 2.57% and 1.67% in their index values.

Also read-: Mid-Maret: S&P/ASX 200 Trading Higher By 0.51%; All 11 Sectors Are In Green

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 1.09%, 1.06%, 0.13%, and 0.39%, respectively.
2. Oil prices are rising today following commitments to tightening supply from Saudi Arabia and OPEC, although concerns over slowing demand in China and a potential U.S. recession kept gains muted.
3. Gold prices rose a little today but remained pinned near two-week lows as hawkish signals from some Federal Reserve members supported the dollar, while platinum prices gained on expectations of a potential supply deficit next year.
4. Beijing shut parks and museums today while more Chinese cities resumed mass testing for COVID-19, as China fights a fresh nationwide spike in cases that has deepened concerns about its economy.
5. Today most Asian shares are down as the COVID-19 resurgence in China increased concerns that Beijing may re-impose strict pandemic curbs and that further restrictions could cause supply chain disruptions.
6. Hang Seng is down by 0.39%, and FTSE 100 is down by 0.12%.

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