On Tuesday, the S&P/ASX 200 Index (ASX: XJO) had a disappointing session and dropped into the red. The benchmark index fell 0.7% to 8,359.4 points.
Will the market be able to bounce back from this on Wednesday? Here are five things to watch:
ASX 200 expected to rebound
The Australian share market looks set to rebound on Wednesday following a relatively decent session in the United States. According to the latest SPI futures, the ASX 200 is expected to open the day 32 points or 0.4% higher. In late trade on Wall Street, the Dow Jones is down 0.1%, but the S&P 500 is up 0.4% and the Nasdaq is 0.5% higher. This follows the announcement of potential tariffs being introduced by Donald Trump once he's in power.
Oil prices ease
ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a subdued session after oil prices eased overnight. According to Bloomberg, the WTI crude oil price is down 0.65% to US$68.50 a barrel and the Brent crude oil price is down 0.65% to US$72.54 a barrel. Oil prices fell in response to concerns over potential tariffs from Donald Trump.
Web Travel results
Web Travel Group Ltd (ASX: WEB) shares will be on watch on Wednesday when the business to business travel technology company finally releases its half year results. These will be the first results the company has released since spinning off its Webjet Group (ASX: WJL) online travel booking business earlier this year. WebBeds Total Transaction Value and Bookings are expected to be significantly ahead of the prior corresponding period, however its underlying EBITDA margins are expected to fall to ~44%.
Gold price rises
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a better session after the gold price edged higher overnight. According to CNBC, the gold futures price is up 0.1% to US$2,621.1 an ounce. This was driven by safe haven demand amid rising geopolitical tensions.
Supermarkets on watch
Coles Group Ltd (ASX: COL) and Woolworths Group Ltd (ASX: WOW) shares will be on watch on Wednesday when prime minister Anthony Albanese announces new legislation that would punish supermarkets for breaches of the Food and Grocery Code of Conduct. The new code will reportedly include big fines for breaches and give the ACCC extra power.
