Global Factors influencing ASX stocks on 30 June 2023

On 30 June 2023, at AEST 11:45 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 25.80 points or 0.36%, and is currently trading at 7,169.10 levels. Out of 11 sectors, 7 sectors are trading lower along with the S&P/ASX 200. The A-REIT and Consumer Discretionary sectors were the top 2 declining sectors, declining 1.13% and 0.62% in their index values.

Also read: Mid-Market: S&P/ASX 200 Trading Lower By 0.40%; Weighed Down By A-REIT And Consumer Discretionary Sectors

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 mixed in their previous session. NASDAQ Composite, NASDAQ-100, ended lower by 0.00% and 0.16%, Dow jones and S&P 500 ended higher by 0.80% and 0.45%, respectively.

2. Gold prices remained relatively unchanged on Friday, with minimal movement, while experiencing significant losses throughout June. The boost in risk appetite due to robust U.S. economic data contributed to these losses and raised concerns about potential interest rate hikes by the Federal Reserve.

3. Following the release of the Federal Reserve's annual health checks, U.S. bank stocks experienced an increase on Thursday. The results indicated that lenders were capable of withstanding an economic downturn, thereby alleviating investor concerns following the failure of Silicon Valley Bank and two other lenders earlier this year.

4. Investors are closely monitoring the sectors that may face significant pressure due to the recent substantial increase in interest rates as the markets remain vigilant. The notable rate hikes in Britain and Norway this month serve as a reminder that the tightening cycle is still ongoing.

5. The Hang Seng and FTSE 100 is down by 1.24% and 0.38%.

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