On Tuesday, the S&P/ASX 200 Index (ASX: XJO) was in fine form and charged notably higher. The benchmark index rose 1.1% to 7,186.7 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 edge higher
The Australian share market looks set to rise slightly on Wednesday following a positive night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 5 points higher this morning. In late trade in the United States, the Dow Jones is up 0.9%, the S&P 500 is up 0.7%, and the Nasdaq is up 0.95%.
CBA half year results
The Commonwealth Bank of Australia (ASX: CBA) share price will be one to watch this morning when it releases its half year results. According to a note out of Morgans, its analysts are expecting Australia's largest bank to deliver cash earnings of $4.320 billion and a fully franked interim dividend of $1.74 per share.
Oil prices tumble
Energy producers such as Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) could have a difficult day after oil prices tumbled. According to Bloomberg, the WTI crude oil price is down 1.6% to US$89.82 a barrel and the Brent crude oil price has fallen 1.7% to US$91.07 a barrel. Oil prices fell amid further talks between the US and Iran relating to sanctions
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 pushed higher. According to CNBC, the spot gold price is up 0.45% to US$1,829.7 an ounce. An unstable environment in the markets is believed to be supporting demand for the safe haven asset.
Mineral Resources half year results
The Mineral Resources Limited (ASX: MIN) share price will be in focus today when it releases its half year results. Over at Citi, its analysts are forecasting a net profit after tax of $262.4 million for the half. Goldman Sachs is less positive and has tipped the mining and mining services company to negatively surprise. It is forecasting a result "-5%/-16% below VA consensus 1H FY22 EBITDA/NPAT respectively."
