On Tuesday, the S&P/ASX 200 Index (ASX: XJO) was in fine form and stormed higher. The benchmark index rose 1.05% to 7,034.1 points.
Will the market be able to build on this on Wednesday? Here are five things to watch:
ASX 200 expected to tumble
The Australian share market looks set to tumble on Wednesday following a poor night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 29 points or 0.4% lower this morning. In late trade on Wall Street, the Dow Jones is down 0.35%, the S&P 500 is down 0.4% and the Nasdaq is 0.8% lower.
Oil prices rise
ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a decent session after oil prices rose overnight. According to Bloomberg, the WTI crude oil price is up 0.65% to US$73.29 a barrel and the Brent crude oil price has risen 0.7% to US$78.68 a barrel. Kurdish supply risks boosted prices again.
Liontown shares are still a buy
The Liontown Resources Ltd (ASX: LTR) share price may have rocketed 68% higher on Tuesday following a takeover approach, but one broker believes it can keep rising. Bell Potter believes Albemarleâs offer is fair but not full and has retained its buy rating with an improved price target of $3.35.
Gold price rises
Gold miners Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a good day after the gold price rose overnight. According to CNBC, the spot gold price is up 1.1% to US$1,975.6 an ounce. US dollar weakness gave the precious metal a lift.
Dividend payday
A large number of ASX 200 shares will be paying their latest dividends on Wednesday. This includes stock exchange operator ASX Ltd (ASX: ASX), iron ore giant Fortescue Metals Group Ltd (ASX: FMG), gold miner Northern Star, energy producer Santos Ltd (ASX: STO), and engineering company Worley Ltd (ASX: WOR).
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
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- Here are the top 10 ASX 200 shares today
- How Iâd invest $20k in ASX 200 shares to earn a second income of $140 a month
- Here are the 3 most heavily traded ASX 200 shares on Tuesday
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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 Scott Phillips.
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