On Tuesday, the S&P/ASX 200 Index (ASX: XJO) was back on form and pushed higher. The benchmark rose 0.2% to 7,430.9 points.
Will the market be able to build on this on Wednesday? Here are five things to watch:
ASX 200 expected to rise
The Australian share market looks set to edge higher on Wednesday following a mixed night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 2 points higher this morning. In late trade on Wall Street, the Dow Jones is down 0.3%, the S&P 500 is up 0.1%, and the Nasdaq is 0.4% higher. This follows the release of a hotter than expected US inflation reading.
Oil prices drop
Energy producers Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a tough session after oil prices dropped. According to Bloomberg, the WTI crude oil price is down 1.3% to US$79.08 a barrel and the Brent crude oil price has fallen 1.15% to US$85.63 a barrel. Supply concerns are weighing on prices following the release of US reserves.
Computershare delivers huge earnings growth
The Computershare Limited (ASX: CPU) share price will be one to watch on Wednesday. This follows the release of the share registry company's half year results after the market close yesterday. Computershare reported a 33.5% increase in management revenue to $1.6 billion and a massive 95.2% jump in management earnings per share to 45.1 cents per share.
Gold price edges lower
Gold miners Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a subdued session after the gold price edged lower overnight. According to CNBC, the spot gold price is down 0.1% to US$1,862 an ounce. This follows a hotter than expected inflation reading.
Commonwealth Bank half year results
The Commonwealth Bank of Australia (ASX: CBA) share price will be in focus today when the banking giant releases its half year results. According to a note out of Goldman Sachs, its analysts expect cash earnings from continuing operations to increase 7.6% to $5,108 million. This is slightly lower than the consensus estimate of $5,165 million. An interim dividend of $2.12 per share is expected by Goldman.
