Global Factors influencing ASX stocks on 27 March 2023

On 27 March 2023, at AEDT 01:15 PM, the benchmark index S&P/ASX 200 is trading higher today, gaining 15.00 points or 0.22%, and is currently trading at 6,970.20 levels. Out of 11 sectors 10 sectors are trading higher along with the S&P/ASX 200. The Utilities and Information Technology were the top 2 gaining sectors, gaining 1.61% and 1.06% in their index values.

Also read Mid-Market: S&P/ASX 200 Trading Higher By 0.31%; 10 Out Of 11 Sectors Are Trading Higher

On that note, let us look at a few global reasons impacting the stock market today:

1. Key U.S. indices ended higher in their previous session. NASDAQ Composite and NASDAQ-100, Dow Jones and S&P 500 declined 0.31%, 0.30%, 0.41% and 0.56% respectively.

2. Gold prices are falling today as traders took profits following a strong run of gains, but they stayed close to critical levels reached last week as worries of a worldwide financial crisis kept safe-haven demand high.

3. Oil prices rose in early trade on Monday as fears over financial sector upheaval subsided, although statements by Russian President Vladimir Putin over the weekend heightened geopolitical tensions in Europe.

4. Asian equities rose today alongside U.S. stock futures on expectations that government officials were attempting to ring-fence the global financial system's stress, even as the price of default insurance approached risky levels.

5. A policymaker for the U.S. Federal Reserve stated that the banking sector's stress is being closely watched for its potential to start a credit crunch. At the same time, a representative of the European Central Bank also hinted at a potential tightening of lending.

6. The Hang Seng is down 0.32%, and the FTSE 100 is down by 1.26%.

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