5 things to watch on the ASX 200 on Wednesday

Here's what to expect on the ASX 200 on Wednesday.

A young man sits at his desk working on his laptop with a big smile on his face due to his ASX shares going up and in particular the Computershare share price

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On Tuesday, the S&P/ASX 200 Index (ASX: XJO) was back on form and recorded a solid gain. The benchmark index rose 0.4% to 7,015.2 points.

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

ASX 200 expected to edge higher

The Australian share market looks set to edge higher on Wednesday despite a subdued night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 8 points or 0.1% higher this morning. In late trade on Wall Street, the Dow Jones is up 0.2%, but the S&P 500 and the Nasdaq are flat.

Oil prices rebound

It could be a good session for ASX 200 energy shares such as Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) after oil prices rebounded overnight. According to Bloomberg, the WTI crude oil price is up 2.2% to US$76.51 a barrel and the Brent crude oil price is up 2.2% to US$81.74 a barrel. Traders were buying oil ahead of OPEC's meeting.

AGMs to watch

A number of annual general meetings will be taking place today. Holding their meetings are Harvey Norman Holdings Limited (ASX: HVN), Lynas Rare Earths Ltd (ASX: LYC), and Sandfire Resources Ltd (ASX: SFR). It's possible that these companies could provide trading updates at their events.

Gold price rises

ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a good session on Wednesday after the gold price pushed higher again. According to CNBC, the spot gold price is up 1.45% to US$2,041.8 an ounce. Further US dollar weakness boosted the precious metal.

ASX 200 shares going ex-dividend

A couple of ASX 200 shares are going ex-dividend this morning and could trade lower. These are grain exporter Graincorp Ltd (ASX: GNC) and gold mining giant Newmont Corporation (ASX: NEM). Eligible shareholders can look forward to receiving their 30 cents per share and 42.7 cents per share dividends, respectively, in the coming weeks.

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 no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Harvey Norman. 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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