On Tuesday the S&P/ASX 200 Index (ASX: XJO) had a mixed day. The benchmark index edged ever so slightly higher to 6,976.9 points.
Will the market be able to build on this on Wednesday? Here are five things to watch:
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ASX 200 expected to rise
The Australian share market looks set to push higher today. According to the latest SPI futures, the ASX 200 is expected to open the day 18 points or 0.25% higher. This follows a largely positive night of trade on Wall Street. Although the Dow Jones dropped 0.2%, the S&P 500 rose 0.3% and the Nasdaq stormed 1% higher.
Oil prices rise
It could be a good day for energy producers such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) after oil prices pushed higher. According to Bloomberg, the WTI crude oil price is up 1.2% to US$60.41 a barrel and the Brent crude oil price has risen 1% to US$63.91 a barrel. Strong economic data out of China gave oil prices a boost.
Gold price higher
Gold miners Evolution Mining Ltd (ASX: EVN) and Newcrest Mining Limited (ASX: NCM) could be on the rise after the gold price pushed higher overnight. According to CNBC, the spot gold price is up 0.75% to US$1,745.70 an ounce. This was driven by a weaker US dollar and a rise in US inflation.
Tech shares on watch
It could be a positive day of trade for Australian tech shares including Afterpay Ltd (ASX: APT) and Nextdc Ltd (ASX: NXT) on Wednesday. This follows a very positive night of trade for the tech-heavy Nasdaq index. As the local tech sector has a tendency to follow the Nasdaq's lead, its 1% gain overnight bodes well for today's session.
Ramsay acquisition plans
The Ramsay Health Care Limited (ASX: RHC) share price will be one to watch this morning. This follows speculation that the company is teaming up with a private equity firm to acquire rival private hospitals owner Healthe Care. According to the AFR, Ramsay will take as many assets as the ACCC will allow, with the private equity firm taking the rest.
