5 things to watch on the ASX 200 on Wednesday

A big day of results awaits investors and the ASX 200 on Wednesday.

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On Tuesday, the S&P/ASX 200 Index (ASX: XJO) carved out the smallest of gains. The benchmark index rose a modest 1.9 points to 7,311.1 points.

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

ASX 200 expected to edge lower

The Australian share market looks set to fall on Wednesday following a poor night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 5 points or 0.1% lower this morning. In the United States, the Dow Jones fell 0.45%, the S&P 500 dropped 0.4%, and the Nasdaq tumbled 0.8%.

CBA results

The Commonwealth Bank of Australia (ASX: CBA) share price will be one to watch today. That's because the banking giant is scheduled to release its full-year results this morning. The analyst consensus estimate is for second-half cash earnings of $5,014 million. This would take its full-year cash earnings to $10,167 million. A $2.24 per share fully franked final dividend is also expected from Australia's largest bank.

Oil prices rise

It looks set to be a decent session for ASX 200 energy shares such as Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) after oil prices rose overnight. According to Bloomberg, the WTI crude oil price is up 1.1% to US$82.80 a barrel and the Brent crude oil price has fallen 0.8% to US$86.03 a barrel. Strong US economic data boosted prices.

Gold price falls

ASX 200 gold shares such as Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a subdued session after the gold price fell overnight. According to CNBC, the spot gold price is down 0.5% to US$1,959.5 an ounce. A stronger US dollar pushed the gold price to a one-month low.

Suncorp FY 2023 results

Suncorp Group Ltd (ASX: SUN) shares will also be in focus today when the insurance giant releases its full-year results. According to a note out of Goldman Sachs, its analysts expect Suncorp to report cash earnings of $1,240 million, cash earnings per share of 94 cents, and dividends per share of 70 cents.

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 positions in and has recommended Goldman Sachs Group. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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