Global Factors influencing ASX stocks on 24 October 2022

On 24 October 2022, at AEDT 12:25 PM, the benchmark index S&P/ASX 200 is trading higher today, gaining 123.70 points or 1.85%, and is currently trading at 6,800.50 levels. All 11 sectors are trading higher along with the S&P/ASX 200. The Materials and Consumer Discretionary sectors are the top 2 gaining sectors, gaining 3.72% and 2.14% in their index values.

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 by 2.31%, 2.39%, 2.47% and 2.37%, respectively.

2. China's Xi Jinping secured a third leadership term on Sunday and presented a top governing body stacked with loyalists, cementing his place as the country's most powerful ruler since Mao Zedong.

3. After Boris Johnson withdrew from the contest on Sunday, Rishi Sunak looked set to become Britain's next prime minister, saying that although he had enough support to make the final ballot, he realised the country and the Conservative Party needed unity.

4. Russia fired missiles and drones into Ukrainian-held Mykolaiv on Sunday, destroyed an apartment block in the ship-building city near the front and said the war was trending towards "uncontrolled escalation".

5. Hang Seng is down by 0.42%, and FTSE 100 is up by 0.37%.

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.au