On Tuesday, the S&P/ASX 200 Index (ASX: XJO) was back on form and pushed higher. The benchmark rose 0.2% to 7,430.9 points.

Will the market be able to build on this on Wednesday? Here are five things to watch:

ASX 200 expected to rise

The Australian share market looks set to edge higher on Wednesday following a mixed night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 2 points higher this morning. In late trade on Wall Street, the Dow Jones is down 0.3%, the S&P 500 is up 0.1%, and the Nasdaq is 0.4% higher. This follows the release of a hotter than expected US inflation reading.

Oil prices drop

Energy producers Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a tough session after oil prices dropped. According to Bloomberg, the WTI crude oil price is down 1.3% to US$79.08 a barrel and the Brent crude oil price has fallen 1.15% to US$85.63 a barrel. Supply concerns are weighing on prices following the release of US reserves.

Computershare delivers huge earnings growth

The Computershare Limited (ASX: CPU) share price will be one to watch on Wednesday. This follows the release of the share registry company’s half year results after the market close yesterday. Computershare reported a 33.5% increase in management revenue to $1.6 billion and a massive 95.2% jump in management earnings per share to 45.1 cents per share.

Gold price edges lower

Gold miners Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a subdued session after the gold price edged lower overnight. According to CNBC, the spot gold price is down 0.1% to US$1,862 an ounce. This follows a hotter than expected inflation reading.

Commonwealth Bank half year results

The Commonwealth Bank of Australia (ASX: CBA) share price will be in focus today when the banking giant releases its half year results. According to a note out of Goldman Sachs, its analysts expect cash earnings from continuing operations to increase 7.6% TO $5,108 million. This is slightly lower than the consensus estimate of $5,165 million. An interim dividend of $2.12 per share is expected by Goldman.

The post 5 things to watch on the ASX 200 on Wednesday appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• Woodside share price turns red following production update
• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• Are whales dipping in and out of this ASX 200 travel share?
• Why is the Santos share price lifting on Tuesday?

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 Scott Phillips.

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