On Tuesday, the S&P/ASX 200 Index (ASX: XJO) had a subdued session and edged into the red. The benchmark index fell 0.1% to 8,399.1 points.
Will the market be able to bounce back from this on Wednesday? Here are five things to watch:
ASX 200 expected to rise
The Australian share market looks set to rise on Wednesday following a positive night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 18 points or 0.2% higher this morning. In late trade in the United States, the Dow Jones is up 0.25%, the S&P 500 is up 0.85%, and the Nasdaq is 1.8% higher.
Buy CSL shares
CSL Ltd (ASX: CSL) shares are a buy according to analysts at Goldman Sachs. The broker highlights that the Australian TGA has approved the registration of its garadacimab therapy for routine prevention of recurrent hereditary angiodema (HAE) attacks. Goldman believes FDA an EU approvals will be coming in the near future, which will be a boost to its top line. It said: "The introduction of garadacimab provides the opportunity to regain some share and grow the prophylactic HAE market, given its more convenient dosing schedule (once monthly). Our CSL HAE revenue growth forecast of 25% FY25-FY28 CAGR reflects ~27% market share by the end of this period." Goldman has reaffirmed its buy rating and $325.40 price target on CSL's shares.
Oil prices rise
ASX 200 energy shares including Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a decent session after oil prices rose overnight. According to Bloomberg, the WTI crude oil price is up 0.7% to US$73.65 a barrel and the Brent crude oil price is up 0.4% to US$77.37 a barrel. Traders were buying oil amid Libyan supply disruption concerns.
Gold price higher
It could be a good session for ASX 200 gold shares 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 1.2% to US$2,771.6 an ounce. Tariff uncertainties gave the precious metal a boost.
Pilbara Minerals update
Pilbara Minerals Ltd (ASX: PLS) shares will be on watch on Wednesday when the lithium giant releases its second quarter update. The consensus estimate is for spodumene production of 181kt, down from 220kt on the first quarter. This is expected to lead to a fall in sales volumes to 183kt at a slightly softer realised spodumene price of US$668 per tonne. Cash costs are forecast to rise 5.2% to US$505 per tonne.
