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.
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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Bravura Solutions Ltd and Link Administration Holdings Ltd. The Motley Fool Australia owns shares of and has recommended Treasury Wine Estates Limited. The Motley Fool Australia owns shares of AFTERPAY T FPO and Xero. The Motley Fool Australia has recommended Bravura Solutions Ltd, InvoCare Limited, and Link Administration Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.