5 things to watch on the ASX 200 on Wednesday

On Tuesday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) had a much-needed positive day of trade and finished it 1% higher at 5,728.3 points.

Will Wednesday be just as good? Here are five things to watch:

ASX futures pointing slightly higher.

The Australian share market looks set to build on yesterday’s strong gain on Wednesday. According to the latest SPI futures, the ASX 200 is expected to open the day 2 points higher this morning following a positive night of trade on Wall Street. After a weak start, in the late trade the Dow Jones is up 0.2%, the S&P 500 is also up 0.2%, and the Nasdaq is flat.

Afterpay Touch annual general meeting.

The Afterpay Touch Group Ltd (ASX: APT) share price will be on watch on Wednesday when it holds its annual general meeting. However, with the payments company only recently providing a business update, the company may not bring much new data to the table.

Oil prices drop back.

Unfortunately for Oil Search Limited (ASX: OSH) and Woodside Petroleum Limited (ASX: WPL), the oil price rebound was only short-lived. According to Bloomberg, the WTI oil price has edged 0.1% lower to US$51.58 a barrel and the Brent crude oil price has fallen 0.3% to US$60.29 a barrel. Prices were as much as 2% lower at one stage on the back of a stronger U.S. dollar.

NEXTDC declared as a buy.

The NEXTDC Ltd (ASX: NXT) share price could be on the move on Wednesday after Goldman Sachs initiated coverage on the data centre operator with a buy rating and $8.00 price target. The broker believes NEXTDC is well-positioned to take advantage of the industry-wide tailwinds of cloud migration (both public and private) and growth in big data.

Graincorp shares go ex-dividend.

The Graincorp Ltd (ASX: GNC) share price is likely to trade lower today due to its shares going ex-dividend for the grain producer’s final fully franked 8 cents per share dividend. Eligible shareholders will be paid this dividend on December 13.

Top 3 ASX Blue Chips To Buy For 2019

For many, blue chip stocks mean stability, profitability and regular dividends, often fully franked…

But knowing which blue chips to buy, and when, can be fraught with danger.

The Motley Fool’s in-house analyst team has poured over thousands of hours worth of proprietary research to bring you the names of The Motley Fool’s Top 3 Blue Chip Stocks for 2019.

Each one pays a fully franked dividend. The names of these Top 3 ASX Blue Chips are included in a specially prepared FREE report. But you will have to hurry. Depending on demand – and how quickly the share prices of these companies moves – we may be forced to remove this report.

See the 3 blue chip stocks

Motley Fool contributor James Mickleboro owns shares of NEXTDC Limited. The Motley Fool Australia owns shares of AFTERPAY T FPO. 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.