On Tuesday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) had a disappointing day of trade and finished it down 0.3% to 6,253.9 points.
Will things be better on Wednesday? Here are five things that could shape the day’s trade:
Australian share market expected to open flat.
According to the latest SPI futures, the local market is expected to open the day flat. This soft start comes despite a positive night of trade on Wall Street which saw the Dow Jones rise 0.5% and both the S&P 500 and Nasdaq climb 0.3% higher.
Commonwealth Bank results.
This morning the Commonwealth Bank of Australia (ASX: CBA) share price will be on watch when the banking giant releases its full-year results. According to a note out of Goldman Sachs, it is expecting a cash profit before non-recurring items of $9,089 million, which will be a decline of approximately 5.9% on the prior corresponding period. The broker has also forecast a $2.30 per share final dividend.
It isn’t just Commonwealth Bank that is due to release its results. Embattled financial services company AMP Limited (ASX: AMP), casino and resort operator SKYCITY Entertainment Group Limited (ASX: SKC), and Tabcorp Holdings Limited (ASX: TAH) are scheduled to release their respective results this morning.
Oil prices positive.
Australian energy producers such as Oil Search Limited (ASX: OSH) and Santos Ltd (ASX: STO) could be given a lift on Wednesday after oil prices rose overnight. According to Bloomberg, the WTI crude oil price rose 0.1% to US$69.09 a barrel and the Brent crude oil price jumped almost 1% to US$74.46 a barrel.
Shares going ex-dividend.
A number of shares including Australian Foundation Investment Co.Ltd. (ASX: AFI), Finbar Group Limited (ASX: FRI), and OceanaGold Corp (ASX: OGC) are likely to drop lower this morning when their shares trade ex-dividend.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Sky City Entertainment Group Ltd. 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.