On Tuesday, the S&P/ASX 200 Index (ASX: XJO) was on form and recorded a decent gain. The benchmark index rose 0.3% to 7,078.2 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 for a subdued session on Wednesday following a poor night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 6 points or 0.1% lower this morning. In late trade on Wall Street, the Dow Jones is down 0.2%, the S&P 500 has fallen 0.2%, and the Nasdaq is 0.6% lower.
Oil prices mixed
It could be a soft session for ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) after a mixed night for oil prices. According to Bloomberg, the WTI crude oil price is down 0.15% to US$77.72 a barrel and the Brent crude oil price is up 0.1% to US$82.42 a barrel. Traders appear nervous ahead of OPEC's meeting.
Webjet results
Webjet Limited (ASX: WEB) shares will be on watch today when the online travel agent releases its half-year results. According to a note out of Goldman Sachs, its analysts are expecting EBITDA growth of 42% for the year. Investors may want to check if Webjet is performing in line with this growth rate.
Gold price climbs above US$2,000
ASX 200 gold shares such as Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a good session on Wednesday after the gold price climbed overnight. According to CNBC, the spot gold price is up 1.1% to US$2,002.3 an ounce. The precious metal rose after the release of US Fed minutes.
Karoon Energy upgraded
The Karoon Energy Ltd (ASX: KAR) share price could be good value according to analysts at Goldman Sachs. In response to the energy company's Who Dat acquisition, the broker has upgraded its shares to a buy rating with a $2.68 price target. It said: "We view the company's proposed acquisition of Who Dat as encouraging progress towards earnings diversification."
