5 things to watch on the ASX 200 on Wednesday

ASX Ltd (ASX:ASX) and Corporate Travel Management Ltd (ASX:CTD) shares will be on watch on the ASX 200 on Wednesday…

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On Tuesday the S&P/ASX 200 Index (ASX: XJO) had a subdued day and edged ever so slightly lower. The benchmark index ended the day 0.2 points lower at 5,952.1 points.

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

ASX 200 expected to tumble.

It looks set to be a tough day of trade for the ASX 200 on Wednesday. According to the latest SPI futures, the ASX 200 is poised to open the day 52 points or 0.9% lower this morning. This follows declines on Wall Street which ended a three-day winning streak. The Dow Jones fell 0.5%, the S&P 500 dropped 0.5%, and the Nasdaq edged 0.3% lower.

Corporate Travel Management to return.

The Corporate Travel Management Ltd (ASX: CTD) share price will be on watch today when it returns from its trading halt. The corporate travel company requested the halt on Monday whilst it undertook a $375 million capital raising. These funds will be used to acquire Travel & Transport for $274.5 million. Travel & Transport is a leading US travel management company. Management is forecasting the acquisition to be approximately 30% earnings per share accretive post-synergies.

Oil prices sink lower

Energy shares such as Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) could come under pressure on Wednesday after oil prices sank lower. According to Bloomberg, the WTI crude oil price dropped 3.9% to US$39.03 a barrel and the Brent crude oil price has fallen 3.8% to US$40.84 a barrel. Concerns over rising coronavirus cases weighed on sentiment.

Gold price continues its ascent.

Gold miners such as Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could be on the rise today after the gold price continued its recovery. According to CNBC, the spot gold price is up 1.05% to US$1,902.10 an ounce. This follows the further softening of the U.S. dollar and stimulus optimism.

ASX annual general meeting.

The ASX Ltd (ASX: ASX) share price could be on the move on Wednesday. Later today the stock exchange operator will be holding its virtual annual general meeting. The company could also release a trading update ahead of the meeting.

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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. 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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