On Tuesday, the S&P/ASX 200 Index (ASX: XJO) was on form and pushed higher. The benchmark index rose 0.3% to 8,877.7 points.
Will the market be able to build on this on Wednesday? Here are five things to watch:
ASX 200 expected to fall
The Australian share market looks set to give back yesterday's gains on Wednesday following a poor night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 27 points or 0.3% lower this morning. In the United States, the Dow Jones was down 0.3%, the S&P 500 fell 0.1%, and the Nasdaq edged 0.1% lower.
Oil prices charge higher
ASX 200 energy shares including Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a good session after oil prices charged higher overnight. According to Bloomberg, the WTI crude oil price is up 2% to US$64.55 a barrel and the Brent crude oil price is up 1.55% to US$68.49 a barrel. This was driven by concerns over Russian supply.
Shares going ex-dividend
Another group of ASX shares are going ex-dividend today and are likely to trade lower. This includes travel agent giant Flight Centre Travel Group Ltd (ASX: FLT) and poultry producer Inghams Group Ltd (ASX: ING). Flight Centre is paying a fully franked 29 cents per share final dividend to shareholders on 16 October, whereas Inghams will be rewarding its shareholders with an 8 cents per share fully franked final dividend on 1 October.
Gold price rises
It looks set to be a decent session for ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) on Wednesday after the gold price edged higher overnight. According to CNBC, the gold futures price is up 0.3% to US$3,729.2 an ounce. Increasing US rate cut bets boosted the precious metal.
Hold New Hope shares
New Hope Corporation Ltd (ASX: NHC) shares are fully valued according to analysts at Bell Potter. This morning, in response to the coal miner's FY 2025 results, the broker has held firm with its hold rating and $4.10 price target. It said: "NHC's low-cost operations will continue to underpin margins through the coal price cycle, funding capital expenditure commitments and supporting strong shareholder returns. Beyond ramp-up of New Acland Stage 3, we see a limited organic production growth pipeline and believe NHC may participate in industry consolidation."
