On Friday, the S&P/ASX 200 Index (ASX: XJO) was back on form and recorded a strong gain. The benchmark index rose 0.45% to 7,420.3 points.
Will the market be able to build on this on Wednesday? Here are five things to watch:
ASX 200 futures flat
The Australian share market is set to return to trade again this morning in a subdued fashion. According to the latest SPI futures, the ASX 200 is expected to open the day flat this morning. This follows a mixed night of trade on Wall Street, which in late trade sees the Dow Jones up 0.3% but the S&P 500 down 0.1% and the Nasdaq trading 0.6% lower.
Final day to qualify for dividends
A number of popular ASX dividend shares will be trading ex-dividend tomorrow, which means that today is the final day to invest to be able to receive them when they are paid. Going ex-dividend tomorrow are the likes of Charter Hall Group (ASX: CHC), Goodman Group (ASX: GMG), Mirvac Group (ASX: MGR), and Transurban Group (ASX: TCL).
Oil prices rise
Energy producers such as Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) could have a good start to the week after oil prices pushed higher. According to Bloomberg, the WTI crude oil price is up 0.65% to US$76.07 a barrel and the Brent crude oil price has risen 0.6% to US$79.03 a barrel. Oil prices have now risen 3% since the morning of Christmas Eve.
Gold price edges lower
Gold miners Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could start the week in a subdued fashion after the gold price edged lower. According to CNBC, the spot gold price is down 0.1% to US$1,806.7 an ounce. The gold price had hit a one-month high before pulling back on US dollar weakness.
Iron ore price falls
Weakness in the iron ore price could weigh on BHP Group Ltd (ASX: BHP) and Rio Tinto Limited (ASX: RIO) shares on Wednesday. According to Metal Bulletin, the spot benchmark iron ore price has fallen 3% to US$119.44 a tonne.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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