On Tuesday, the S&P/ASX 200 Index (ASX: XJO) had a subdued session and carved out the smallest of gains. The benchmark index rose slightly to 8,484 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 fall
The Australian share market looks set to fall on Wednesday following a mixed night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 11 points or 0.15% lower this morning. In late trade in the United States, the Dow Jones is up 0.15%, but the S&P 500 is down 0.1% and the Nasdaq is 0.3% lower.
CSL shares rated as a buy
Analysts at Goldman Sachs think investors should be buying the dip in the CSL Ltd (ASX: CSL) share price. In response to its half year results, the broker has reaffirmed its buy rating on the biotech giant's shares with a trimmed price target of $318.40. It said: "CSL delivered a mixed result with strong IG growth and +170bps CC Behring Gross Margin (GM%) accretion across 1H25 overshadowed by weakness across its Seqirus influenza vaccines segment. […] Ultimately, CSL Behring (68% of group FY25 Gross Profit) remains the key earnings driver for the group and the result reinforced the earnings drivers for this segment are intact."
Oil prices race higher
ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a good session after oil prices raced higher overnight. According to Bloomberg, the WTI crude oil price is up 1.35% to US$73.32 a barrel and the Brent crude oil price is up 1.5% to US$77.00 a barrel. Traders were buying oil on supply worries.
Gold price edges lower
It could be a subdued session for ASX 200 gold shares such as Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) after the gold price edged lower overnight. According to CNBC, the gold futures price is down 0.05% to US$2,932.8 an ounce. Traders appear to have been taking profit after a record run on trade war fears.
CBA half year results
Commonwealth Bank of Australia (ASX: CBA) shares will be on watch on Wednesday when the nation's largest bank releases its eagerly anticipated half year results. For the six months ended 31 December, the market is expecting CBA to report revenue of $13.62 billion. This is largely flat on the prior corresponding period. The bank's earnings per share is expected to be down slightly year on year to $2.91.
