On Tuesday the S&P/ASX 200 Index returned from the Easter break with a bang, climbing a solid 0.95% to 6,319.4 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 looks set to continue its ascent on Wednesday. According to the latest SPI futures, the ASX 200 is poised to open the day 0.3% or 19 points higher. This follows a very positive night of trade on Wall Street which saw the Dow Jones rise 0.55%, the S&P 500 jump 0.9%, and the Nasdaq storm 1.3% higher.
Tech shares will be on watch.
Popular tech shares such as Altium Limited (ASX: ALU) and Appen Ltd (ASX: APX) will be on watch this morning after their U.S. peers raced higher overnight. The technology-focused Nasdaq index closed the day 1.3% higher at an all-time high following a series of strong results.
Oil prices race higher again.
The Beach Energy Ltd (ASX: BPT) share price and the Woodside Petroleum Limited (ASX: WPL) share price could push higher again this morning after another positive night of trade for oil prices. According to Bloomberg, the WTI crude oil price has pushed a further 1.1% higher to US$66.30 a barrel and the Brent crude oil price rose 0.6% to US$74.49 a barrel. President Trump's crackdown on Iranian exports has been the catalyst for these rises.
Gold price sinks lower.
Gold miners such as Newcrest Mining Limited (ASX: NCM) and St Barbara Ltd (ASX: SBM could come under pressure again on Wednesday after the spot gold price tumbled to a four-month low. According to CNBC, the spot gold price is down 0.25% to US$1,274.30 an ounce due to a stronger U.S. dollar and increased risk appetite.
Boral taken to court.
The Wagners Holding Company Ltd (ASX: WGN) share price and the Boral Limited (ASX: BLD) share price will be on watch today after the two parties were unable to resolve a dispute relating to the validity of the latter's pricing notice for the supply of cement. As a result, Wagners has now filed a Statement of Claim in the Supreme Court of Queensland. It also advised that its FY 2019 profit guidance will be reduced by $10 million.
