On Tuesday, the S&P/ASX 200 Index (ASX: XJO) was on form and pushed higher. The benchmark index rose 0.55% to 8,407.6 points.
Will the market be able to build on this on Wednesday? Here are five things to watch:
ASX 200 expected to rise again
The Australian share market looks set to rise again on Wednesday following a strong night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 48 points or 0.6% higher this morning. In the United States, the Dow Jones was up 1.8%, the S&P 500 rose 2.05%, and the Nasdaq jumped 2.5%.
Oil prices fall
ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a subdued session after oil prices fell overnight. According to Bloomberg, the WTI crude oil price is down 0.65% to US$61.13 a barrel and the Brent crude oil price is down 0.6% to US$64.732 a barrel. Concerns about higher OPEC output weighed on sentiment.
Goodman update
Goodman Group (ASX: GMG) shares will be on watch on Wednesday when the industrial property juggernaut releases its third quarter update. Goodman has a habit of upgrading its guidance late in the financial year. So, all eyes will be on its operating earnings per share guidance, which currently stands at 9% growth for FY 2025. This compares to the consensus estimate for 10.1% growth to 118.4 cents per share according to Morgan Stanley. The market will also be looking for updates on Goodman's data centre expansion.
Gold price tumbles
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 tumbled overnight. According to CNBC, the gold futures price is down 1.85% to US$3,303.5 an ounce. Easing trade tensions put pressure on the gold price.
Buy Telstra shares
Analysts at Goldman Sachs have responded positively to the Telstra Group Ltd (ASX: TLS) strategy update on Tuesday. This morning, the broker has retained its buy rating and $4.90 price target on the telco giant's shares. It said: "Telstra has a clear focus on delivering consistent and predictable earnings growth, through simplifying the business, monetizing its core value proposition of superior connectivity, and maintaining tight cost discipline through a commitment to positive operate leverage."
