On Tuesday, the S&P/ASX 200 Index (ASX: XJO) was sold off amid escalating tensions in the Ukraine. The benchmark index sank 1% to 7,161.3 points.
Will the market be able to bounce back from this on Wednesday? Here are five things to watch:
ASX 200 expected to fall again
The Australian share market looks set to fall again on Wednesday following a tough night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 15 points or 0.2% lower this morning. In late trade in the United States, the Dow Jones is down 1.7%, the S&P 500 is down 1.3%, and the Nasdaq has tumbled 1.45%.
Rio Tinto half year results
The Rio Tinto Limited (ASX: RIO) share price will be one to watch this morning when the mining giant releases its full year results. According to a note out of Goldman Sachs, the broker is expecting the miner to report EBITDA of US$38 billion and net profit after tax of US$21 billion. This is slightly lower than the Visible Alpha consensus estimate of US$38.5 billion and US$21.7 billion, respectively. The market is also expecting a final dividend of 484 US cents per share.
Oil prices rise again
Energy producers such as Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) could have a good day after oil prices rose again. According to Bloomberg, the WTI crude oil price is up 1.5% to US$92.38 a barrel and the Brent crude oil price has risen 1.7% to US$96.97 a barrel. Traders were bidding oil prices higher after Ukraine-Russia tensions escalated.
Gold price edges higher
Gold miners Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a decent day after the gold price edged higher. According to CNBC, the spot gold price is up 0.3% to US$1,905.1 an ounce. Demand for the safe haven asset has risen amid developments in the Ukraine.
Woolworths half year results
The Woolworths Group Ltd (ASX: WOW) share price will be on watch on Wednesday when the retail giant releases its half year results. According to CommSec, the market is expecting Woolies to report a profit of $878 million and a fully franked final dividend of 48 cents per share.
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 shares today
- ASX 200 tech shares take a hammering as Ukraine fears escalate
- Here’s why the Northern Star (ASX:NST) share price had such a stellar day
- Opportunity? 5 ASX 200 shares that traded at 52-week lows today
- These 3 ASX 200 shares are topping the volume charts 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 Bruce Jackson.
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