On Tuesday the S&P/ASX 200 Index (ASX: XJO) gave back its strong early gains to finish the day lower. The benchmark index dropped 0.4% to 6,762.3 points.
Will the market be able to bounce back from this on Wednesday? Here are five things to watch:
ASX 200 futures pointing higher
It looks set to be a better day for the Australian share market on Wednesday. According to the latest SPI futures, the ASX 200 is poised to open the day 15 points or 0.2% higher. In late trade on Wall Street, the Dow Jones is up 0.1%, the S&P 500 is down 0.1%, and the Nasdaq index is 0.7% lower.
Oil prices rise
Energy producers such as Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could push higher today after oil prices strengthened. According to Bloomberg, the WTI crude oil price is up 0.4% to US$60.83 a barrel and the Brent crude oil price is up 0.25% to US$63.81 a barrel.
Tech shares on watch
It could be a tough day for tech shares such as Afterpay Ltd (ASX: APT) and Xero Limited (ASX: XRO) on Wednesday. This follows a poor night of trade on the tech-focused Nasdaq index. The local tech sector has a tendency to follow the illustrious index's lead.
Gold price charges higher
Gold miners Evolution Mining Ltd (ASX: EVN) and Resolute Mining Limited (ASX: RSG) could have a positive day after the gold price charged higher. According to CNBC, the spot gold price is up 0.75% to US$1,735.70 an ounce after bond yields softened.
Shares going ex-dividend
Another group of shares will be going ex-dividend this morning and could trade lower. This includes Bravura Solutions Ltd (ASX: BVS), InvoCare Limited (ASX: IVC), IOOF Holdings Limited (ASX: IFL), Link Administration Holdings Ltd (ASX: LNK), and Treasury Wine Estates Ltd (ASX: TWE). The latter will be paying eligible shareholders a 15 cents per share fully franked dividend on 1 April.
