Global Factors influencing ASX stocks on 26 May 2023

On 26 May 2023, at AEST 11:58 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 4.20 points or 0.06%, and is currently trading at 7,141.00 levels. Out of 11 sectors, 5 sectors are trading higher along with the S&P/ASX 200. The Financial and Utilities sectors were the top 2 gaining sectors, gaining 0.44% and 0.22% in their index values.

Also read: Mid-Market: S&P/ASX 200 Marginally Lower By 0.06%; FPH Shares Are Declining By More Than 4%

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 ended higher by 1.71%, 2.46%, and 0.88% and Dow jones closed lower 0.11% respectively.

2. The United States launched its first sale of oil and gas drilling rights on federal lands since President Joe Biden's historic climate change measure was signed into law, collecting more than US$78 million in high bids for licences in New Mexico and Kansas.

3. On Thursday, US President Joe Biden and top congressional Republican Kevin McCarthy looked to be nearing an agreement to reduce spending and raise the government's US$31.4 trillion debt ceiling, with little time to spare to avoid default.

4. The US State Department warned on Thursday that China was capable of launching cyber assaults against essential infrastructure, such as oil and gas pipelines and rail systems, after researchers uncovered a Chinese hacking organisation spying on such networks.

5. The Hang Seng and FTSE 100 are down 1.93% and 0.74%.

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