The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) bounced back from Monday’s decline with a strong 0.8% gain to 6,299.6 points yesterday.
Will the market be able to build on this on Wednesday? Here are five things to watch:
ASX futures pointing lower.
The latest SPI futures reveal that the Australian share market is expected to open the day 5 points or almost 0.1% lower on Wednesday. This is despite a positive night of trade on Wall Street which saw U.S. markets move on from the Turkish currency crisis. The Dow Jones was up 0.45%, the S&P 500 rose 0.64%, and the Nasdaq climbed 0.65%.
Oil prices slide lower again.
Oil prices have continued to slide lower overnight, which could put a spot of pressure on the shares of energy producers such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL). According to Bloomberg, the WTI crude oil price fell 0.7% to US$66.72 a barrel and the Brent crude oil price dropped 0.6% to US$72.19 a barrel.
Job listings giant SEEK Limited (ASX: SEK) is scheduled to release its full-year results this morning. According to the Bloomberg consensus estimate, the market is expecting a net profit after tax (NPAT) of $206.4 million. Management has previously advised that it expects reported NPAT of circa $230 million before deducting investments in early stage growth options of around $30 million.
Another blue chip that has been pencilled in to release its results its global biotech giant CSL Limited (ASX: CSL). Its shares are up almost 59% since this time last year so expectations are high for FY 2018 and its guidance for next year. In May the company lifted its full-year net profit after tax guidance to be in the range of approximately US$1,680 million to US$1,710 million.
More results due for release.
It is another busy day of earnings releases on Wednesday. As well as SEEK and CSL, results are due to be released by personal care products company BWX Ltd (ASX: BWX), administration services company Computershare Limited (ASX: CPU), insurance giant Insurance Australia Group Ltd (ASX: IAG), and conglomerate Wesfarmers Ltd (ASX: WES).
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Motley Fool contributor James Mickleboro owns shares of SEEK Limited. The Motley Fool Australia owns shares of and has recommended BWX Limited and Wesfarmers Limited. The Motley Fool Australia owns shares of Insurance Australia Group Limited. The Motley Fool Australia has recommended Computershare and SEEK Limited. 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.