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5 things to watch on the ASX on Wednesday

On Tuesday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) had another disappointing day of trade and finished it lower by 0.3% at 6,293.1 points.

Will the market be able to bounce back with a gain on Wednesday? Here are five things to watch:

ASX futures.

According to the latest SPI futures, the Australian share market is expected to open the day down by around 0.3% or 18 points following a soft night of trade on Wall Street. The Dow Jones Industrial Average edged slightly lower and the S&P 500 and Nasdaq both fell 0.2%.

Oil prices slide.

Energy producers Oil Search Limited (ASX: OSH) and Woodside Petroleum Limited (ASX: WPL) could come under a little bit of pressure today after oil prices gave back their recent gains. According to Bloomberg, the WTI crude oil price fell 0.6% to US$69.37 a barrel and the Brent crude oil price dropped 0.45% to US$77.80 a barrel. A strengthening U.S. dollar weighed on prices.

Investa Office Fund receives second takeover offer.

A late announcement out of property fund Investa Office Fund (ASX: IOF) yesterday reveals that it has received an unsolicited, non-binding, indicative and conditional proposal from Oxford Properties Group to acquire 100% of IOF for a cash price of $5.50 per unit. This is 15.15 cents per IOF unit more than the $5.3485 offered by Blackstone.

Shares going ex-dividend.

More shares are due to go ex-dividend today for their latest pay outs. These include the shares of personal care products company BWX Ltd (ASX: BWX), hotel and cinema operator Event Hospitality and Entertainment Ltd (ASX: EVT), funeral company InvoCare Limited (ASX: IVC), private health insurer Medibank Private Ltd (ASX: MPL), and airline Qantas Airways Limited (ASX: QAN).

Amazon market cap hits one trillion dollars.

During overnight trade Amazon joined Apple when its market capitalisation climbed above the US$1 trillion mark for the first time. Amazon’s time in the one trillion club was only short-lived, though. It wasn’t able to hold onto its gains and slipped to a US$995 billion market capitalisation by the market close.

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John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and recommends Amazon and Apple. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool Australia owns shares of and has recommended BWX Limited and Event Hospitality & Entertainment. The Motley Fool Australia has recommended Amazon, Apple, and InvoCare 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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