On Tuesday the S&P/ASX 200 Index (ASX: XJO) was on form again and pushed higher. The benchmark index rose 0.2% to 6,498.2 points.
Will the market be able to build on this on Wednesday? Here are five things to watch:
ASX 200 expected to rise.
The Australian share market looks set to extend its positive run on Wednesday despite a mixed night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to rise 14 points or 0.2% at the open. In late trade on Wall Street, the Dow Jones is down 0.4%, the S&P 500 has fallen 0.2%, and the Nasdaq is up 0.1%.
Aristocrat Leisure full year result.
The Aristocrat Leisure Limited (ASX: ALL) share price could be on the move today when it hands in its full year results. According to a note out of Goldman Sachs, its analysts have forecast revenue of $3.94 billion and net profit after tax before amortisation of $471 million. This will be a 10% and 47% decline, respectively, over the prior corresponding period. The gaming technology company has been impacted greatly by the pandemic.
Oil prices soften.
Energy shares such as Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could come under pressure after oil prices softened overnight. According to Bloomberg, the WTI crude oil price is down 0.6% to US$41.08 a barrel and the Brent crude oil price is down 0.8% to US$43.46 a barrel. Oil prices came under pressure amid tightening restrictions globally to combat COVID-19.
A2 Milk Company annual general meeting.
The A2 Milk Company Ltd (ASX: A2M) share price will be on watch today when it holds its annual general meeting. Ahead of the meeting, the infant formula and fresh milk company is likely to provide the market with an update. All eyes will be on whether tough trading conditions have persisted since its last update.
Gold price edges lower.
Gold miners including Northern Star Resources Ltd (ASX: NST) and Saracen Mineral Holdings Limited (ASX: SAR) could have a subdued day of trade and the gold price edged lower. According to CNBC, the spot gold price is down 0.15% US$1,884.90 an ounce. Traders appear undecided on gold due to the recent vaccine news.
