5 things to watch on the ASX on Wednesday

It was another disappointing day of trade for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) on Tuesday. The benchmark index finished the day over 1% lower at 5,843.1 points.

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

ASX futures flat.

According to the latest SPI futures, the Australian share market is expected to open the day flat on Wednesday. This isn’t a bad result for local investors considering the disappointing night of trade on Wall Street which saw the Dow Jones fall 0.5%, the S&P 500 fall 0.55%, and the Nasdaq drop 0.4%. Things had been far worse for U.S. markets in early trade but a late rally narrowed declines.

Oil prices sinking.

Energy producers such as Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) are likely to see their shares come under pressure today after oil prices fell heavily overnight. According to Bloomberg, the WTI crude oil price fell 4.3% to US$66.39 a barrel and the Brent crude oil price tumbled 4.3% to US$76.41 a barrel. News that Saudi Arabia has pledged to produce as much oil as it can sent prices tumbling.

Bellamy’s annual general meeting.

All eyes will be on the Bellamy’s Australia Ltd (ASX: BAL) annual general meeting in Launceston today. The infant formula company’s shares have come under significant pressure in the last couple of months amid concerns over slowing growth and delays to its CFDA accreditation. The market is expecting an update on both.

More annual general meetings.

It isn’t just Bellamy’s holding its annual general meeting today. Recreational vehicle company Apollo Tourism & Leisure Ltd (ASX: ATL), property group Stockland Corporation Ltd (ASX: SGP), gold producer St Barbara Ltd (ASX: SBM), and retail conglomerate Super Retail Group Ltd (ASX: SUL) are also holding meetings and expected to provide trading updates.

Bank of Queensland shares go ex-dividend.

The Bank of Queensland Limited (ASX: BOQ) share price is likely to trade lower again on Wednesday after going ex-dividend for its fully franked final 38 cents per share dividend. Eligible shareholders can look forward to receiving this dividend in their nominated accounts on November 14. The shares of airline operator Regional Express Holdings Ltd (ASX: REX) are also going ex-dividend this morning.

The best dividend share to buy on the ASX today

You might not know this market leader's name, but it's rapidly expanding into a highly profitable niche market here in Australia. Even better, the shares boast a strong, fully franked dividend that should balloon in the years to come. In other words, we're looking at the holy grail of incredible long-term growth potential AND income you can watch accruing in your account in real time!

Simply click here to grab your FREE copy of this up-to-the-minute research report on our #1 dividend share recommendation now.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. 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.

The 5 mining stocks we’re recommending in 2019…

For decades, Australian mining companies have minted money for individual investors like you and me. But if you believe the pundits and talking heads on TV, those days are long gone. Finito! Behind us forever…

We say nothing could be further from the truth. To earn the really massive returns, you’ve got to fish where others aren’t fishing—and the mining sector could be primed for a resurgence. That’s why top Motley Fool analysts just revealed their exciting new research on 5 ASX miners they believe could help you profit in 2019 and beyond…


The best way we see to play the global zinc shortage… Our #1 favourite large-cap miner (hint: it’s not BHP)… one early-stage gold miner we think could hit the motherlode… Plus two more surprising companies you probably haven’t heard of yet!

For free access to our brand-new research, simply click here or the link below. But be warned, this research is available free for a limited time only, and we reserve the right to withdraw it at any time.

Click here for your FREE report!