On Tuesday, the S&P/ASX 200 Index (ASX: XJO) was on form and pushed higher. The benchmark index rose 0.4% to 8,269 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
The Australian share market looks set to rise again on Wednesday following a decent 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 the United States, the Dow Jones was down 0.65%, but the S&P 500 rose 0.7% and the Nasdaq jumped 1.6%.
Oil prices rise again
ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a good session after oil prices climbed again overnight. According to Bloomberg, the WTI crude oil price is up 2.7% to US$63.63 a barrel and the Brent crude oil price is up 2.45% to US$66.56 a barrel. Traders have been bidding oil prices higher since the US and China signed a trade deal.
Buy Life360 shares
Life360 Inc (ASX: 360) shares were on fire on Tuesday with a 14% gain following the release of the location technology company's first quarter update. But Goldman Sachs doesn't believe it is too late to invest. This morning, it has retained its buy rating with an improved price target of $31.00 (from $27.00). It said: "Life360's 1Q25 result was above VA consensus expectations at the Revenue/gross profit/Adj. Ebitda lines with continued growth in core subscriptions and supported by the implementation of advertising revenue as hardware was broadly flat YoY."
Gold price rebounds
It could be a good session for ASX 200 gold shares including Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) after the gold price rebounded overnight. According to CNBC, the gold futures price is up 0.95% to US$3,258.8 an ounce. Traders were buying gold following soft US inflation data and bargain hunting.
CBA results
The Commonwealth Bank of Australia (ASX: CBA) share price will be on watch on Wednesday when the banking giant releases its third quarter update. According to a note out of Macquarie, its analysts are expecting a solid result from Australia's largest bank. Though, it warns that it may not be long until weakness emerges. It said: "Despite CBA's extreme valuation, we see limited earnings risk in the near term. However, as the RBA's easing cycle gathers pace, we expect margin pressures to emerge, driving our below-consensus forecasts for FY26-27E."
