On Tuesday, the S&P/ASX 200 Index (ASX: XJO) returned from the public holiday with a bang. The benchmark index rose 0.85% to 8,587.2 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 30 points or 0.35% higher this morning. In the United States, the Dow Jones was up 0.25%, the S&P 500 rose 0.55%, and the Nasdaq stormed 0.6% higher.
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 edged lower overnight. According to Bloomberg, the WTI crude oil price is down 0.6% to US$64.91 a barrel and the Brent crude oil price is down 0.45% to US$66.74 a barrel. Oil prices fell despite US-China trade talks.
Buy Clarity shares
Clarity Pharmaceuticals Ltd (ASX: CU6) shares could be in the buy zone according to analysts at Bell Potter. This morning, the broker has reaffirmed its speculative buy rating on the pharmaceuticals company's shares with a trimmed price target of $4.90. This is more than double its current share price. It said: "The DISCO data provides an outstanding platform from which to launch a future approval trial. The early data suggests 64Cu SARTATE is superior to the standard of care for detection of NET's in addition to having an outstanding safety profile."
Gold price falls
It could be a subdued session for ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) after the gold price fell overnight. According to CNBC, the gold futures price is down 0.25% to US$3,346.6 an ounce. Traders were selling gold in response to the US-China trade talks.
Hold Catapult shares
Analysts at Bell Potter have reaffirmed their hold rating on Catapult Group International Ltd (ASX: CAT) shares with an improved price target of $6.00 (from $5.00). In response to the announcement of an acquisition, the broker said: "We have increased the multiple we apply in the EV/Revenue valuation from 6.5x to 7.75x on the back of the acquisition and large cross-sell opportunity as well as the continued rally in the tech sector."
