5 things to watch on the ASX 200 on Wednesday

Here’s what to expect on Wednesday on the ASX 200…

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On Tuesday the S&P/ASX 200 Index (ASX: XJO) gave back its earlier gains to end the day with a small decline. The benchmark index fell slightly to 7,374.9 points.

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

ASX 200 poised to rise

The Australian share market looks set to bounce back on Wednesday. According to the latest SPI futures, the ASX 200 is expected to open the day 41 points or 0.55% higher this morning. This follows a solid night on Wall Street, which in late trade sees the Dow Jones up 0.45%, the S&P 500 up 0.7%, and the Nasdaq trading 0.7% higher.

Aristocrat Leisure could return

The Aristocrat Leisure Limited (ASX: ALL) share price will be on watch today if it returns from its trading halt. The gaming technology company has been raising funds to acquire London-listed leading global online gambling software and content supplier, Playtech, for $5 billion. This represents a valuation multiple of 11.4x Playtech’s adjusted EBITDA for the twelve months ended 30 June 2021.

Oil prices rise

Energy producers such as Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) will be on watch after a positive night for oil prices. According to Bloomberg, the WTI crude oil price is up 0.5% to US$82.83 a barrel and the Brent crude oil price has risen 0.7% to US$84.94 a barrel. Oil prices are trading near multi-year highs amid the global energy crunch.

Gold price rises

Gold miners Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a decent day after the gold price edged higher. According to CNBC, the spot gold price is up 0.2% to US$1,769.3 an ounce. The gold price gained despite bond yields widening.

Flight Centre AGM

The Flight Centre Travel Group Ltd (ASX: FLT) share price could be one to watch today. This morning the travel agent giant is scheduled to hold its annual general meeting and could provide investors with a trading update at the event.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Flight Centre Travel Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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