Global Factors influencing ASX stocks on 25 January 2024

On 25 January 2024, at AEDT 11:50 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 18.20 points or 0.24%, and is currently trading at 7,537.10 levels. Out of 11 sectors, 5 sectors are trading higher along with the gain in the S&P/ASX 200. The Materials and Healthcare sectors are the top 2 gaining sectors, gaining 1.21% and 0.62% 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 mixed in their previous session. NASDAQ Composite, NASDAQ-100, and S&P 500 gained 0.36%, 0.55%, and 0.08%, respectively. However, Dow industrial declined by 0.26%.

2. The S&P 500 climbed to its fourth straight record high close on Wednesday, as Netflix surged following blowout quarterly results and a strong report from ASML fuelled gains in chipmakers.

3. Oil prices edged up about 1% in the previous session on a bigger-than-expected U.S. crude storage withdrawal, a decline in U.S. crude output, Chinese economic stimulus, geopolitical tensions and a weaker dollar.

4. European shares rose over 1% on Wednesday, boosted by technology stocks after software company SAP and chip-making equipment maker ASML Holding posted strong earnings, while fresh stimulus from China’s central bank further aided sentiment.

5. Hang Seng is up by 3.56%, and FTSE 100 is up by 0.56%.

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