On Tuesday, the S&P/ASX 200 Index (ASX: XJO) was on form again and pushed higher. The benchmark index rose 0.35% to 8,285.1 points.
Will the market be able to build on this on Wednesday? Here are five things to watch:
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ASX 200 expected to rise again
The Australian share market looks set to rise on Wednesday despite a poor night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 17 points or 0.2% higher this morning. In late trade in the United States, the Dow Jones is down 0.1%, the S&P 500 is down 0.7%, and the Nasdaq is 1.4% lower.
Buy Iluka shares
The team at Goldman Sachs thinks that Iluka Resources Ltd (ASX: ILU) shares are one of the best options in the Asia-Pacific region. This morning, the broker has added the mineral sands and rare earths company's shares to its coveted Asia-Pacific conviction list. Goldman Sachs has put a conviction buy rating and $7.70 price target on them. The broker highlights that "Zircon (used in ceramics and chemicals) is one of the best structural supply side stories in commodities."
Oil prices rise
ASX 200 energy shares including Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a good session after oil prices pushed higher overnight. According to Bloomberg, the WTI crude oil price is up 0.95% to US$74.25 a barrel and the Brent crude oil price is up 1% to US$77.05 a barrel. Concerns over supply disruptions gave oil prices a boost during Tuesday night's session.
Gold price pushes higher
It could be a positive session for ASX 200 gold shares such as Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) after the gold price pushed higher overnight. According to CNBC, the gold futures price is up 0.6% to US$2,663.6 an ounce. This was driven by a weaker US dollar.
Premier Investments pay day
Premier Investments Ltd (ASX: PMV) shareholders will be smiling today when they are paid their latest dividend from the retail conglomerate. Late last year, the Smiggle and Peter Alexander owner released its full year results and declared a fully franked final dividend of 70 cents per share. This will be finding its way into the bank accounts of eligible shareholders later today.
