On Tuesday, the S&P/ASX 200 Index (ASX: XJO) had subdued session and dropped into the red. The benchmark index fell 0.1% to 8,142 points.
Will the market be able to bounce back from this on Wednesday? Here are five things to watch:
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ASX 200 expected to rise
The Australian share market looks set to rise on Wednesday following a decent session in the United States. According to the latest SPI futures, the ASX 200 is expected to open the day 21 points or 0.25% higher. On Wall Street, the Dow Jones was up 0.2%, the S&P 500 rose 0.25%, and the Nasdaq pushing 0.55% higher.
Oil prices higher
ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a good session after oil prices pushed higher overnight. According to Bloomberg, the WTI crude oil price is up 1.65% to US$71.53 a barrel and the Brent crude oil price is up 1.65% to US$75.13 a barrel. Chinese stimulus and tensions in the Middle East boosted oil prices.
Light & Wonder named as a buy
Light & Wonder Inc (ASX: LNW) shares were sold off on Tuesday after being hit with an injunction. Analysts at Bell Potter think this has created a buying opportunity and have retained their buy rating with a reduced price target of $161.00 (from $186.00). Though, the broker concedes that "any damages paid by LNW present potential downside risk to our forecasts and may create an overhang on the stock in the near term."
Gold price hits new record high
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a good session after the gold price hit a new record high. According to CNBC, the gold futures price is up 1.3% to US$2,687.6 an ounce. Rising tensions in the Middle East and rate cut bets helped drive the precious metal to record levels.
Dividends being paid
A number of ASX 200 shares are rewarding their shareholders with their latest dividend payments on Wednesday. This includes rail freight operator Aurizon Holdings Ltd (ASX: AZJ), supermarket giant Coles Group Ltd (ASX: COL), pizza chain Domino's Pizza Enterprises Ltd (ASX: DMP), energy giant Santos Ltd (ASX: STO), and general insurance company Suncorp Group Ltd (ASX: SUN). The latter is paying its shareholders a fully franked 44 cents per share dividend.
