Global Factors influencing ASX stocks on 23 November 2022

On 23 November 2022, at AEDT 01:45 PM, the benchmark index S&P/ASX 200 is trading higher today, gaining 50.40 points or 0.70%, and is currently trading at 7,231.70 levels. Out of 11 sectors, 10 sectors are trading higher along with the S&P/ASX 200. The Energy and industrial sectors are the top 2 gaining sectors, gaining 1.84% and 1.29% in their index values.

Also read-: Mid-Maret: S&P/ASX 200 Trading Higher By 0.82%; QAN upgraded its profit guidance

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 1.36%, 1.48%, 1.18%, and 1.36%, respectively.
2. Oil prices rose today  after industry data showed U.S. crude stockpiles fell more sharply than expected last week, highlighting supply tightness ahead of a looming European Union ban and G7 price cap on Russian oil.
3. The trucking union in major exporter South Korea has threatened to begin a nationwide strike, which could disrupt manufacturing and fuel supplies.
4. The New Zealand central bank raised its benchmark rate by 75 bps to 4.25%, highest rate rise since the 2008 financial crisis and warned of a potential economic downturn in the near-term as it continues to move against inflation.
5. Today Singapore has forecasted its economic growth that it would slow in 2023 amid high inflation and global pressures that would hit demand for the city-state's outward-oriented industries like trade and finance.
6. Hang Seng is up by 0.10%, and FTSE 100 is up by 1.03%.

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