Global Factors influencing ASX stocks on 30 November 2022

On 30 November 2022, at AEDT 01:05 PM, the benchmark index S&P/ASX 200 is trading higher today, gaining 23.10 points or 0.32%, and is currently trading at 7,276.40 levels. Out of 11 sectors, 04 sectors are trading higher along with the S&P/ASX 200. The Material and A-REIT top 2 gaining sectors, higher 1.29% and 0.89% in their index values.

Also read-: Mid-Market: S&P/ASX 200 Trading Higher By 0.28%; Inflation slows to 6.9% in October

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 lower and some ended higher in their previous session. NASDAQ Composite ended lower by 0.59%, NASDAQ-100 ended lower by 0.73%, Dow industrial ended higher by 0.01%, and S&P 500 closed lower by 0.16%, respectively.
2. Oil prices rose for the second straight day amid the expectation of repone of China’s economy, following the protest by its citizens and on the prediction that OPEC+ may further cut oil production after the alliance meeting.
3. According to the Australian Bureau of Statistics, the monthly Consumer Price Index indicator rose 6.9% in the year to October 2022, lower than expected.
4. The dollar index has dropped to 106.82 from the 20- year high of 114.78 as investors look toward the U.S. central bank reaching a peak rate early next year with inflation pressures expected to subside.
5. Gold prices are looking muted today following signals that U.S. interest rate hikes are likely to slow in the coming months.
6. Hang Seng is up by 0.08%, and FTSE 100 is up by 0.51%.

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