On Tuesday, the S&P/ASX 200 Index (ASX: XJO) was on form again and finished at a new record high close. The benchmark index rose 0.4% to 8,880.8 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 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 22 points or 0.25% higher this morning. In the United States, the Dow Jones was up 1.01%, the S&P 500 rose 1.15%, and the Nasdaq jumped 1.4%.
Oil prices drop
ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a poor session after oil prices fell overnight. According to Bloomberg, the WTI crude oil price is down 1.2% to US$63.22 a barrel and the Brent crude oil price is down 0.7% to US$66.16 a barrel. Traders were selling oil after the US and China extended their tariffs deadline.
CBA results
All eyes will be on Commonwealth Bank of Australia (ASX: CBA) shares today when the banking giant releases its full year results. According to a note out of UBS, its analysts are expecting the bank to report a 3.6% lift in revenue to $28.17 billion and a net profit of $10.27 billion. This is expected to underpin a full year fully franked dividend of $4.75 per share.
Gold price eases
It looks set to be a subdued session for ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) on Wednesday after the gold price edged lower overnight. According to CNBC, the gold futures price is down 0.15% to US$3,400.1 an ounce. This was despite US inflation data supporting the case for further interest rate cuts.
Buy Life360 shares
Bell Potter thinks that Life360 Inc. (ASX: 360) shares could be heading even higher. In response to the location technology company's second quarter update, the broker has retained its buy rating with an improved price target of $47.50 (from $37.50). Commenting on its buy recommendation, Bell Potter said: "We have increased the multiples we apply in the EV/Revenue and EV/EBITDA valuations from 9.5x and 55x to 12.5x and 62.5x and also reduced the WACC we apply in the DCF from 8.5% to 8.3% due to the strong result and better-than-expected operating leverage. The net result is a 27% increase in our PT to $47.50 which is >15% premium to the share price so we maintain the BUY recommendation. Potential catalysts include a strong 3Q2025 result and potential further upgrade in the guidance."
