On Tuesday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) had a strong day of trade and climbed to a two-month high. The benchmark index closed the day 0.7% higher at 5,814.6 points.
Will the market be able to build on this on Wednesday? Here are five things to watch:
ASX futures pointing higher.
According to the latest SPI futures, the ASX 200 is expected to open the day higher again on Wednesday. Current futures contracts are pointing to a 7-point or 0.1% gain at the open. This follows a positive night of trade on Wall Street. Late in the session the Dow Jones is up 0.4%, the S&P 500 has risen 0.85%, and the Nasdaq has jumped 1.5%.
Brexit vote.
After five days of debate on Brexit, MPs will vote on whether to back British prime minister Theresa May's deal for leaving the European Union. The vote will occur at 7am EST, with a result expected shortly after. Shares with exposure to the UK such as CYBG PLC (ASX: CYB) and Pendal Group Ltd (ASX: PDL) will be on watch.
Trading updates.
Investors might want to keep a close eye on Afterpay Touch Group Ltd (ASX: APT) and Kogan.com Ltd (ASX: KGN) shares today. Both companies traditionally provide trading updates around this time of year, covering the all-important Christmas trading period.
Oil prices race higher.
Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) shares could build on yesterday's solid gains after oil prices pushed higher overnight. According to Bloomberg, the WTI crude oil price has climbed 3% to US$52.01 a barrel and the Brent crude oil price is up 2.5% to US$60.44 a barrel. Prices pushed higher due to speculation that China is preparing some economic stimulus that may support oil demand.
Goldman remains neutral on Perpetual.
A note out of Goldman Sachs reveals that its analysts have retained their neutral rating and lifted the price target on Perpetual Limited (ASX: PPT) shares to $36.50 following its funds under management update on Tuesday. The update was stronger than Goldman expected but not enough to make any changes to its recommendation.
