On Tuesday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) had one of its best days in recent memory when it finished the day almost 2% higher at 6,005.9 points.
Will the market be able to build on this on Wednesday? Here are five things to watch:
ASX futures pointing higher.
The Australian share market is expected to continue its ascent on Wednesday. According to the latest SPI futures, the ASX 200 is poised to open the day 18 points or 0.3% higher this morning. This follows a positive night of trade on Wall Street which late in the session sees the Dow Jones 0.5% higher, the S&P 500 up 0.3%, and the Nasdaq up 0.6%.
CBA results.
The Commonwealth Bank of Australia (ASX: CBA) share price is likely to be on the move again on Wednesday. Later this morning Australia's largest bank will release its interim results. According to a note out of Goldman Sachs, it expects CBA to deliver first half cash earnings excluding one-offs of $4,695 million. This will be an increase of 2.1% on the prior corresponding period. On a per share basis, its analysts have pencilled in cash earnings of 257.1 cents and a dividend of 200 cents.
Insurance Australia results.
The Insurance Australia Group Ltd (ASX: IAG) share price will be one to watch today when the insurance giant releases its half year results. According to Bloomberg, the market is expecting the insurer to deliver a first half profit of $395.5 million and declare an interim 24.5 cents dividend.
Oil prices slide lower.
Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) shares will be on watch today after oil prices dropped lower again. According to Bloomberg, the WTI crude oil price has fallen 1.2% to US$53.89 a barrel and the Brent crude oil price has dropped 0.4% to US$62.25 a barrel.
ResMed shares go ex-dividend.
The ResMed Inc. (ASX: RMD) share price may edge lower today after trading ex-dividend this morning for its quarterly dividend. Eligible shareholders can now look forward to being paid its 3.6 cents per share dividend on March 14.
