On Tuesday the S&P/ASX 200 index continued its positive run with another small gain. The benchmark index finished the day 0.15% higher at 6,697.1 points.
Will the local share market be able to build on this on Wednesday? Here are five things to watch:
ASX 200 poised to rise again.
The S&P/ASX 200 index looks set to push higher again on Wednesday. According to the latest SPI futures, the ASX 200 is expected to open 20 points or 0.3% higher this morning. This follows a mixed night of trade on Wall Street which saw the Dow Jones climb 0.3%, the S&P 500 trade flat, and the Nasdaq edge 0.1% higher.
Oil prices jump.
Energy shares such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could be on the rise after oil prices charged higher overnight. According to Bloomberg, the WTI crude oil price rose 1.25% higher to US$57.24 a barrel and the Brent crude oil price pushed 1.35% higher to US$62.97 a barrel. Trade optimism and an improved demand outlook were behind these gains.
Gold price sinks.
Australia’s leading gold miners including Northern Star Resources Ltd (ASX: NST) and Resolute Mining Limited (ASX: RSG) could come under pressure today after the gold price sank lower. According to CNBC, the spot gold price fell 1.7% to US$1,485.50 an ounce following further improvement in risk appetite.
Annual general meetings.
Another group of popular companies will be holding their annual general meetings today and could provide trading updates. This includes building products company Boral Limited (ASX: BLD), travel company Corporate Travel Management Ltd (ASX: CTD), and aged care provider Estia Health Ltd (ASX: EHE).
Shares going ex-dividend.
A number of shares are trading ex-dividend this morning and could drop lower. This includes regional bank Bank of Queensland Limited (ASX: BOQ), conglomerate Brickworks Limited (ASX: BKW), and sleep treatment specialist ResMed Inc (ASX: RMD).
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Corporate Travel Management Limited. The Motley Fool Australia has recommended Brickworks and ResMed Inc. 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.