Global Factors influencing ASX stocks on 23 June 2023

On 23 June 2023, at AEST 11:15 AM, the benchmark index S&P/ASX 200 is trading lower today, dropping 36.30 points or 0.50%, and is currently trading at 7,159.20 levels. All 11 sectors are trading lower along with the S&P/ASX 200. The Energy and A-REIT sectors were the top 2 declining sectors, declining 1.85% and 0.55% in their index values.

Also read: Mid-Market: S&P/ASX 200 Trading Lower By 0.41%; 10 Out 11 Sectors Are Trading In Red

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 mixed in their previous session. NASDAQ Composite, S&P 500, NASDAQ-100 ended higher by 0.95%, 0.37%, 1.18%, and Dow jones ended lower by 0.01% respectively.

2. In May, consumer inflation in Japan exceeded expectations, surpassing the Bank of Japan's annual target. Furthermore, an index that monitors inflation, excluding food and fuel prices, reached its highest level in 42 years.

3. U.S. Federal Reserve Chairman Jerome Powell maintained his hawkish stance, indicating that the central bank is not done with its tightening cycle. However, he also offered reassurance that the Fed would exercise caution in its approach.

4. Lithium producers are becoming increasingly concerned that mine permitting delays, staffing shortages, and inflationary pressures could impede their capacity to meet the ambitious electrification timelines of the world by supplying an adequate amount of the battery metal.

5. The Hang Seng and FTSE 100 is down by 1.98% and 0.76%.

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