On Tuesday, the S&P/ASX 200 Index (ASX: XJO) had a reasonably positive session. The benchmark index was up 0.2% to 7,206.9 points.
Will the market be able to build on this on Wednesday? Here are five things to watch:
ASX 200 expected to fall
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 21 points or 0.25% lower this morning. In the United States, the Dow Jones fell 0.05%, the S&P 500 dropped 0.6%, and the Nasdaq tumbled 1%.
Oil prices charge higher
ASX 200 energy shares including Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a good day after oil prices charged higher overnight. According to Bloomberg, the WTI crude oil price is up 1.7% to US$88.82 a barrel and the Brent crude oil price has risen 1.6% to US$92.06 a barrel. Oil prices jumped after OPEC forecast tight supplies.
Shares going ex-dividend
A number of ASX shares are going ex-dividend this morning and could trade lower. This includes ASX 200 shares such as appliance manufacturer Breville Group Ltd (ASX: BRG), battery materials producer IGO Ltd (ASX: IGO), and private health insurer Medibank Private Ltd (ASX: MPL).
Gold price falls
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a difficult session after the gold price dropped overnight. According to CNBC, the spot gold price is down 0.6% to US$1,935.7 an ounce. The gold price fell after the US dollar rebounded ahead of tonight's inflation reading.
Viva Energy sell down
Viva Energy Group Ltd (ASX: VEA) shares will be on watch this morning amid reports that major shareholder Vitol launched a $714 million sell-down of its holding after the market close on Tuesday. According to the AFR, the 16.1% stake was being sold for $2.87 per share.