Global Factors influencing ASX stocks on 27 June 2023

On 27 June 2023, at AEST 11:15 AM, the benchmark index S&P/ASX 200 is trading up today, gaining 34.80 points or 0.49%, and is currently trading at 7,113.50 levels. Out of 11 sectors, 7 sectors are trading higher along with the S&P/ASX 200. The A-REIT and Materials sectors were the top 2 gaining sectors, gaining 0.74% and 0.35% in their index values.

Also read: Mid-Market: S&P/ASX 200 Trading Higher By 0.39%; Lifted By REIT And Financials Sectors

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, S&P 500, NASDAQ-100, and Dow jones ended lower by 1.16%, 0.45%, 1.36%, and 0.04% respectively.

2. On Sunday, the Bank for International Settlements (BIS), the global central bank organization, urged for additional interest rate increases, cautioning that the world economy has reached a critical juncture amid challenges faced by countries in controlling inflation.

3. The gas futures contract for the front-month on the New York Mercantile Exchange's Henry Hub concluded with a 4.9-cent increase, representing a 1.7% rise, reaching US$2.89 per mmBtu (metric million British thermal units). The peak during the session reached US$2.936, marking the highest level observed since March.

4. In a back-to-back gain, oil prices saw a modest increase on Tuesday, with concerns over political instability in Russia and potential supply disruptions offsetting worries regarding global demand.

5. The Hang Seng and FTSE 100 is down by 0.51% and 0.11%.

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