5 things to watch on the ASX on Wednesday

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.

Result releases.

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.

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.

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.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.