Global Factors influencing ASX stocks on 26 April 2023

On 26 April 2023, at AEST 11:35 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 20.50 points or 0.28%, and is currently trading at 7,301.50 levels. Out of 11 sectors, 7 sectors are trading lower along with the S&P/ASX 200. The Materials and A-REIT were the top 2 declining sectors, declining 1.15% and 0.60% in their index values.

Also read: Mid-Market: S&P/ASX 200 Trading Lower By 0.34%; Dragged Down By Miners

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 lower in their previous session. NASDAQ Composite ended higher, NASDAQ-100, Dow jones and S&P 500 ended lower 1.98%, 1.89%, 1.02%, 1.58% respectively.

2. Oil prices surged in early Asian trade today as a trade organization in the United States reported a big reduction in crude oil stockpiles ahead of the publication of official statistics.

3. The dollar and yen gained ground in the previous session as the market mood shifted risk-averse amid fresh concerns about the banking sector and the global economy, knocking the euro off a nearly 10-month high.

4. South Korean consumers' inflation expectations fell to the lowest in almost a year in April, according to a central bank poll released on Wednesday. Still, overall consumer morale reached a 10-month high.

5. Gold prices climbed to critical levels on Wednesday, boosted by safe-haven demand as disappointing U.S. corporate results and economic data fuelled worries of a recession this year.

6. The Hang Seng is down 1.71 % and FTSE 100 is up 0.27%.

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