5 things to watch on the ASX 200 on Wednesday

Commonwealth Bank of Australia (ASX:CBA) and Computershare Ltd (ASX:CPU) shares will be on watch on the ASX 200 on Wednesday…

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

On Tuesday the S&P/ASX 200 Index (ASX: XJO) ended its winning streak with a disappointing decline. The benchmark index sank 0.85% to 6,821.2 points.

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

ASX 200 futures pointing higher

The Australian share market is expected to rebound slightly on Wednesday. According to the latest SPI futures, the benchmark index is poised to open the day 0.2% or 13 points higher. This follows a mixed night of trade on Wall Street, which in late trade sees the Dow Jones up 0.1%, the S&P 500 trading flat, and the Nasdaq pushing 0.2% higher.

CBA half year update

Australia's largest bank, Commonwealth Bank of Australia (ASX: CBA), will be on watch today when it hands in its half year report. According to a note out of Goldman Sachs, its analysts are expecting the bank to report cash earnings from continuing operations (pre-one offs) of $3,692 million and an interim dividend of $1.25 per share.

Oil prices continue to rise

Energy producers such as Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could be on the rise after oil prices pushed higher again. According to Bloomberg, the WTI crude oil price is up 0.8% to US$58.44 a barrel and the Brent crude oil price has pushed 1% higher to US$61.16 a barrel. Oil prices hit 13-month highs overnight.

Computershare results

All eyes will be on the Computershare Ltd (ASX: CPU) share price today following the after hours release of its half year results. Computershare reported a 3.2% decline in management revenue to $1.1 billion and a 52.4% tumble in margin income to $55.2 million. This led to the company's management earnings per share falling 24.8% to 21.8 cents per share. As poor as this was, it was ahead of its guidance. Record low interest rates impacted margin income.

Gold price edges higher

Gold miners such as Evolution Mining Ltd (ASX: EVN) and Resolute Mining Limited (ASX: RSG) will be on watch after the gold price edged higher again. According to CNBC, the spot gold price is up 0.1% to US$1,836.30 an ounce. This was driven by US dollar weakness and stimulus hopes.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Market News

Multiracial happy young people stacking hands outside - University students hugging in college campus - Youth community concept with guys and girls standing together supporting each other.
Share Gainers

Why 4DMedical and these ASX shares are up 200%+ in just a year

These shares have made their shareholders wealthy over the past year.

Read more »

Contented looking man leans back in his chair at his desk and smiles.
Broker Notes

Top brokers name 3 ASX shares to buy today

Here's what brokers are recommending as buys this week.

Read more »

A few gold nullets sit on an old-fashioned gold scale, representing ASX gold shares.
Broker Notes

Up 300% since August, why this surging ASX gold stock could keep racing higher

A leading broker forecasts more strong outperformance from this rocketing ASX gold stock.

Read more »

A doctor appears shocked as he looks through binoculars on a blue background.
Opinions

4DMedical shares crash 20% this week: Should investors cut their losses on the once-booming stock?

The shares are now down 6.61% for the year to date.

Read more »

A woman with a sad face looks to be receiving bad news on her phone as she holds it in her hands and looks down at it.
Share Fallers

Why 29Metals, Navigator Global, Praemium, and Xero shares are sinking today

These shares are having a tough time on hump day. But why?

Read more »

Three happy office workers cheer as they read about good financial news on a laptop.
Share Gainers

Why Evolution Mining, Lynas Rare Earths, Paladin Energy, and Sovereign Metals shares are racing higher today

These shares are having a good session on hump day. But why?

Read more »

A woman wearing headphones looks delighted and animated on news she's receiving from her mobile phone that she is holding close to her face.
Opinions

Forget Telstra shares, I'd buy this ASX telco stock instead

This telco is set to soar higher.

Read more »

A colourfully dressed young skydiver wearing heavy gold gloves smiles and gives a thumbs up as he falls through the sky.
Broker Notes

Bell Potter says this ASX silver stock has 'a sky full of upside'

This exciting stock could be a high risk, high reward pick according to the broker.

Read more »