On Tuesday, the S&P/ASX 200 Index (ASX: XJO) was out of form and dropped into the red. The benchmark index fell 0.2% to 8,818.8 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 rise 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 26 points or 0.3% higher this morning. In late trade in the United States, the Dow Jones is up 1.15% and the S&P 500 is up 0.25%, but the Nasdaq is down 0.2%.
Oil prices rise
ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a decent session after oil prices pushed higher overnight. According to Bloomberg, the WTI crude oil price is up 1.45% to US$61.00 a barrel and the Brent crude oil price is up 1.65% to US$65.12 a barrel. This was driven by concerns that sanctions could hit supply.
Aristocrat results
Aristocrat Leisure Ltd (ASX: ALL) shares will be on watch on Wednesday when the gaming technology company releases its FY 2025 results. The market is looking for the Dragon Link and Phoenix Link creator to report EBITA of approximately $2.19 billion and a net profit after tax of $1.53 billion. The latter will be on approximately 11% on the prior corresponding period.
Gold price edges higher
It looks set to be a relatively flat 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 slightly to US$4,123.4 an ounce. Rate cut optimism in the United States has given the gold price a boost this week.
Buy Life360 shares
Bell Potter thinks investors should be buying Life360 Inc (ASX: 360) shares after their pullback on Tuesday. In response to the location technology company's third quarter update, the broker has retained its buy rating with an improved price target of $52.50 (from $47.50). It said: "In short, we are not perturbed by the slower-than-expected MAU growth in Q3 when it was an intentional shift in marketing spend and also when there was a corresponding increase in the conversion rate. As CEO Lauren Antonoff said, "the strategy is working"."
