MENU

5 things to watch on the ASX on Wednesday

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.

SEEK results.

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.

CSL results.

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).

Four buy-rated shares to watch.

Finally, these buy-rated shares are ones to watch in my opinion. Each could be a quality investment over the long-term.

4 Stocks for Building Wealth After 50

Renowned investor Scott Phillips just released a brand-new report detailing his 4 favourite stocks to buy right now.

And I don’t know about you, but I always pay attention when some of the best investors in the world give me a stock tip.

This is your chance to get in at the very beginning of what could prove to be very special investments.

Click here to get started today!

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.

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.