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5 things to watch on the ASX 200 on Wednesday

On Tuesday the S&P/ASX 200 index returned to form and surged higher. The benchmark index rose 0.7% higher to 6,814.2 points.

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

ASX futures pointing lower.

The S&P/ASX 200 index looks set to give back a lot of yesterday’s gain on Wednesday. According to the latest SPI futures, the S&P/ASX 200 index is expected to drop 41 points or 0.6% lower at the open. This follows a mixed night of trade on Wall Street which in late trade sees the Dow Jones down 0.4%, the S&P 500 index flat, and the Nasdaq pushing 0.4% higher.

Aristocrat Leisure full year result.

The Aristocrat Leisure Limited (ASX: ALL) share price could be on the move today when it releases its full year results. The gaming technology company’s shares have been on fire this year, so expectations are high. A note out of Goldman Sachs reveals that it expects revenue of $4.4 billion and NPATA of $883 million. This represents annual growth of 20% and 21%, respectively.

Oil prices crashes.

Energy shares including Beach Energy Ltd (ASX: OSH) and Santos Ltd (ASX: STO) could drop lower today after oil prices crashed. According to Bloomberg, the WTI crude oil price fell 3.3% to US$55.18 a barrel and the Brent crude oil price dropped 2.6% to US$0.82 a barrel. Oversupply and trade war concerns weighed on prices. The latter led to the spot gold price pushing 0.1% higher to US$1,473.5 an ounce.

Webjet AGM

The Webjet Limited (ASX: WEB) share price could be on the move today when it holds its annual general meeting in Melbourne. Investors will be looking for some positive guidance for FY 2020 from the online travel agent in tough travel markets.

ALS half year result.

The ALS Ltd (ASX: ALQ) share price will be on watch when it releases its half year results. According to a note out of Goldman Sachs, it expects the testing services company to deliver half year EBITDA of $184 million. On the bottom line it has forecast a net profit after tax of $94 million.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Webjet Ltd. 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.

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