5 things to watch on the ASX on Wednesday

On Tuesday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) followed the lead of international markets and stormed 0.6% higher to 6,304.7 points.

Will the market be able to build on this on Wednesday? Here are five things to watch:

ASX futures.

The Australian share market is expected to open the day lower on Wednesday. According to the latest SPI futures, the ASX is poised to open 0.1% or 6 points lower this morning. This is despite a positive night of trade on Wall Street which saw the Dow Jones and S&P 500 edge slightly higher and the Nasdaq rise 0.15%.

Oil prices slide.

Energy shares including Oil Search Limited (ASX: OSH) and Woodside Petroleum Limited (ASX: WPL) could come under pressure today after oil prices dropped lower. The WTI crude oil price fell 0.5% to US$68.53 a barrel and the Brent crude oil price dropped 0.4% to US$75.93 a barrel.

Bellamy’s results.

Organic infant formula company Bellamy’s Australia Ltd (ASX: BAL) is scheduled to release its results this morning. According to the Bloomberg consensus estimate, the market is expecting the company to deliver a net profit after tax of $45.7 million.

Macquarie Telecom results.

Another result due to be released this morning is from data centre, cloud, cyber security, and telecom company Macquarie Telecom Group Ltd (ASX: MAQ). Earlier this month the company upgraded its EBITDA guidance to be in the range of $47 million to $48 million. This exceeded its previous guidance of $44 million to $46 million.

Telstra shares go ex-dividend.

The shares of Telstra Corporation Ltd (ASX: TLS) are likely to drop lower this morning after trading ex-dividend. Eligible shareholders can look forward to receiving the telco giant’s 11 cents per share final dividend on September 27. In addition to Telstra, the shares of Star Entertainment Group Ltd (ASX: SGR) and Super Retail Group Ltd (ASX: SUL) go ex-dividend this morning.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Telstra Limited. The Motley Fool Australia owns shares of Super Retail Group 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.

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