Top Global news influencing the market on 06 October 2022.

At AEDT 11:43 AM benchmark index ASX 200 is up marginally by just 5.80 points and positioned at 6,821.50. Sectors are mixed today along with the S&P/ASX 200 Index. Out of 11 sectors, 3 sectors are higher and 8 are lower. Energy is the best performing sector, gaining 2.41% and 9.41% for the past five days.

Below are some of the global factors influencing the market today.

1. The market globally was weighed down by new US data showing the job markets remain hot. It strengthened the ongoing hawkish conversation from the US Federal Reserve Officials and declining hopes for a pivot from the steady stream of rate hikes to fight inflation and a possible recession.

2. All major US indices ended lower in their previous sessions. NASDAQ Composite, NASDAQ-100, Dow Industrial, S&P 500 and Russell 2000 by 0.25%, 0.08%, 0.14%, 0.20% and 0.74% respectively.

3. Dow closed lower in its previous session after Treasury yield resumed its climb.

4. Ratings agency Fitch lowered the outlook for its credit rating for British government debt to "negative" from "stable".

5. OPEC+ agreed steep oil production cuts on Wednesday, shortening supply in an already tight market. As a result, the oil prices increased to its 3-week high.

6. The dollar rose 1% on the euro and 1.3% on sterling overnight. It was trying to hold those gains in bumpy early trade in Asia.

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