5 things to watch on the ASX on Wednesday

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) had a bit of a mixed day on Tuesday, finishing it flat at 6,280.2 points following heavy declines in the tech sector.

Will the market have a better day on Wednesday? Here are five things that could shape the day’s trade:

ASX futures pointing higher.

According to the latest SPI futures, the Australian share market is expected to open the day 0.3% or 19 points higher on Wednesday. This follows a positive night of trade in the United States which saw the Dow Jones climb 0.4%, the S&P 500 rise 0.5%, and the Nasdaq push 0.55% higher.

Apple reports strong quarterly results.

The shares of global tech giant Apple are up 3% in after-hours trade to an all-time high following a strong quarterly result. Apple reported revenue of US$53.3 billion for the third quarter, up 17% on the prior corresponding period and around US$1 billion ahead of the market’s expectations. Although iPhone sales numbers came in flat at 41.3 million, the popularity of the more expensive iPhone X model helped lift revenue.

Australian tech shares could rebound.

The shares of tech companies including Appen Ltd (ASX: APX) and WiseTech Global Ltd (ASX: WTC) were sold off on Tuesday after their U.S. counterparts fell heavily. But following a positive night of trade on Wall Street and the Nasdaq in particular, Australian tech shares could be set for a rebound today.

Earnings season gathers pace.

This morning the shares of BWP Trust (ASX: BWP), Genworth Mortgage Insurance Australia (ASX: GMA), and Rio Tinto Limited (ASX: RIO) will be on watch when they release their respective results. In respect to the latter, the market is eager to learn what management plans to do with the funds raised from the sale of non-core assets this year.

Commonwealth Bank of Australia given neutral rating.

A note out of Goldman Sachs has given Commonwealth Bank of Australia (ASX: CBA) shares a neutral rating with a reduced price target of $72.72. According to the note, the broker updated its estimates after marking-to-market its forecasts for the latest system credit growth data and the bank’s lending and deposit market shares.

The ASX small cap up 285% with no sign of stopping...

One Australian company has developed a state of the art device that's revolutionizing hospitals all over the world. Even better, this device is so profitable that the company rakes in 90% margins. That's a lot of cash. So no wonder the stock's up 285% since 2008 – with no signs of stopping...

To discover the name and code, simply click the link below. You'll discover our expert's #1 medical technology pick... and you can decide for yourself whether to get invested today.

Click here to claim your free report.

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and recommends Apple. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool Australia owns shares of Appen Ltd and WiseTech Global. The Motley Fool Australia has recommended Apple and BWP Trust. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

5 ASX Stocks for Building Wealth After 50

I just read that Warren Buffett, the world’s best investor, made over 99% of his massive fortune after his 50th birthday.

It just goes to show you… it’s never too late to start securing your financial future.

And Motley Fool Chief Investment Advisor Scott Phillips just released a brand-new report that reveals five of our favourite ASX stocks for building wealth after 50.

– Each company boasts strong growth prospects over the next 3 to 5 years…

– Most importantly each pays a generous dividend, fully franked.

Simply click here to find out how you can claim your FREE copy of “5 ASX Stocks for Building Wealth After 50.”

See the stocks now