Global Factors influencing ASX stocks on 27 July 2023

On 27 July 2023, at AEST 11:25 AM, the benchmark index S&P/ASX 200 is trading up today, ganing 39.80 points or 0.54%, and is currently trading at 7,441.80 levels. Out of 11 sectors, 9 sectors are trading higher along with the S&P/ASX 200. The A-REIT and Information Technology sectors were the top 2 gaining sectors, up by 2.30% and 1.25% in their index values.

Also read: Mid-Market: S&P/ASX 200 Trading Higher By 0.56%; MP1 And INA Are Gaining Significantly

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, S&P 500 ended lower by 0.12%, 0.40%, 0.02%, Dow jones ended higher by 0.23% respectively.

2. On Wednesday, the Federal Reserve increased interest rates by 0.25 percentage point, and Fed Chair Jerome Powell stated that the economy must continue to slow down, and the labour market needs to weaken for inflation to "credibly" return to the U.S. central bank's 2% target.

3. According to a report by credit rating agency KBRA on Wednesday, approximately US$12 billion of loans in U.S. commercial mortgage-backed securities (CMBS) recently became delinquent, resulting in a 34-basis point increase in the late payment rate from June to 3.93%.

4. On Wednesday, the Dow extended its winning streak to a 13th consecutive day, closing higher despite the Federal Reserve's decision to raise interest rates to the highest level in 22 years and a tech-related stumble fuelled by Microsoft.

5. The Hang Seng and FTSE 100 is down by 0.36% and 0.19%.

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