On Tuesday, the S&P/ASX 200 Index (ASX: XJO) had a poor session and dropped into the red. The benchmark index fell 0.4% to 8,935.6 points.
Will the market be able to bounce back from 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 rebound 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 50 points or 0.55% higher this morning. In the United States, the Dow Jones was up 0.3%, the S&P 500 rose 0.4%, and the Nasdaq pushed 0.45% higher.
Oil prices fall
ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a difficult session after oil prices fell overnight. According to Bloomberg, the WTI crude oil price is down 2.3% to US$63.34 a barrel and the Brent crude oil price is down 2.2% to US$67.30 a barrel. This may have been driven by speculation that Donald Trump will pressure Russia and Ukraine to progress peace talks.
Woolworths results
Woolworths Group Ltd (ASX: WOW) shares will be on watch today when the supermarket giant announces its FY 2025 results. According to a note out of Bell Potter, its analysts are expecting Woolworths to report sales of $69,179 million, EBITDA of $5,775 million, and adjusted net profit after tax of $1,473 million. This is expected to lead to Woolworths declaring a fully franked dividend of 84 cents per share for the year.
Gold price rises
It looks set to be a good session for ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) on Wednesday after the gold price pushed higher overnight. According to CNBC, the gold futures price is up 0.6% to US$3,438.3 an ounce. This was driven by news that Donald Trump is planning to fire a US Federal Reserve governor.
Fortescue shares downgraded
Fortescue Ltd (ASX: FMG) shares are overvalued according to analysts at Bell Potter. This morning, the broker has downgraded the iron ore giant's shares to a sell rating (from hold) with a reduced price target of $17.05 (from $17.40). It commented: "FMG's core iron ore operations have outperformed and are on track to sustain these levels into FY26. However, we still forecast a lower iron ore price and declining earnings and dividends. Our NPV-based target price is lowered 2%, to $17.05/sh. With a TSR of – 6% from FMG's last closing price, we downgrade our recommendation to Sell."
