5 things to watch on the ASX 200 on Wednesday

Newcrest Mining Limited (ASX:NCM), Santos Ltd (ASX:STO), and Webjet Limited (ASX:WEB) shares will be on watch on Wednesday. Here's why…

a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

On Tuesday the benchmark S&P/ASX 200 Index edged just a fraction higher to finish the day at 6,221.8 points.

Will the market be able to build on this on Wednesday? Here are five things to watch:

ASX futures pointing lower.

The Australian share market looks likely to drop lower on Wednesday. According to the latest SPI futures, the ASX 200 is poised to open the day 19 points or 0.3% lower this morning. This follows a disappointing night of trade on Wall Street which late in the session sees the Dow Jones down 0.7%, the S&P 500 off 0.6%, and the Nasdaq 0.6% lower. Investors have been hitting the sell button amid concerns that the upcoming U.S. earnings season may be weaker that expected.

Oil prices fall.

Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) shares will be on watch after oil prices dropped lower overnight. According to Bloomberg, the WTI crude oil price has fallen 0.4% to US$64.14 a barrel and the Brent crude oil price has tumbled 0.5% to US$70.74 a barrel.

Gold price higher.

Newcrest Mining Limited (ASX: NCM) and Resolute Mining Limited (ASX: RSG) shares could be on the rise again on Wednesday after gold prices pushed higher. According to CNBC, the spot gold price has climbed 0.5% to US$1,308.30 an ounce. The gold price rose after U.S. stocks and the greenback retreated.

Webjet update.

The Webjet Limited (ASX: WEB) share price will be on watch today after the online travel agent provided an update ahead of its appearance at the UBS Emerging Companies Conference later today. The company revealed its new business unit, Umrah Holidays International, which aims to be a pioneer in the online provision of religious pilgrimage travel services. Management also confirmed that it is on track to deliver at least $120 million EBITDA in FY 2019. This excludes one-offs associated with the acquisition of DOTW but includes all start-up costs associated with Umrah Holidays International.

Dividends being paid.

A number of popular shares are scheduled to pay their latest dividends later today. This includes beverage company Coca-Cola Amatil Ltd (ASX: CCL), building supplies company Fletcher Building Limited (ASX: FBU), and conglomerate Wesfarmers Ltd (ASX: WES).

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Wesfarmers 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.

More on Share Market News

A happy young couple lie on a wooden deck using a skateboard for a pillow.
Share Gainers

These were the best-performing ASX 200 shares in March

These shares made their shareholders smile in March thanks to some very big gains.

Read more »

Businessman using a digital tablet with a graphical chart, symbolising the stock market.
Opinions

2 ASX shares I have been buying in 2024!

I’m a believer in the long-term outlook of these stocks.

Read more »

Stock market chart in green with a rising arrow symbolising a rising share price.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a massive day for the ASX 200, with a new all-time high recorded.

Read more »

A man sits thoughtfully on the couch with a laptop on his lap.
Technology Shares

This ASX tech stock rocketed 60% in March! Can it keep on delivering?

After soaring in March, the ASX tech stock is now up 169% since this time last year.

Read more »

Broker Notes

Brokers name 3 ASX shares to buy now

Here's why brokers are feeling bullish about these three shares this week.

Read more »

A young man clasps his hand to his head with his eyes closed and a pained expression on his face as he clasps a laptop computer in front of him, seemingly learning of bad news or a poor investment.
Share Fallers

Why Burgundy Diamond Mines, Clarity Pharmaceuticals, EML, and Zip are sinking today

These ASX shares are ending the week in the red. But why?

Read more »

A young women pumps her fists in excitement after seeing some good news on her laptop.
Share Gainers

Why Mesoblast, Newmont, Pilbara Minerals, and Platinum shares are jumping

These ASX shares are ending the week strongly. But why?

Read more »

a young boy dressed up in a business suit and tie has a cute grin and holds two fingers up.
Opinions

2 of my top ASX 200 shares to consider buying before April

I would happily exchange dollars for these two shares right now.

Read more »