On Tuesday, the S&P/ASX 200 Index (ASX: XJO) gave back its intraday gains to record a small decline. The benchmark index dropped slightly to 8,867.4 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 to rise
The Australian share market looks set to rise on Wednesday despite a mixed night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 31 points or 0.35% higher this morning. In late trade in the United States, the Dow Jones is up 0.25%, but the S&P 500 is down 0.1% and the Nasdaq is 0.25% lower.
Oil prices fall
ASX 200 energy shares such as Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a subdued session on Wednesday after oil prices eased overnight. According to Bloomberg, the WTI crude oil price is down 0.35% to US$64.14 a barrel and the Brent crude oil price is down 0.1% to US$68.96 a barrel. Traders appear to be waiting to see what happens next with the US and Iran tensions.
CSL shares on watch
CSL Ltd (ASX: CSL) shares will be on watch for two reasons on Wednesday. The first is because the biotherapeutics giant is scheduled to release its eagerly awaited half-year results for FY 2026. The second reason is the shock announcement of the exit of its CEO, Dr Paul McKenzie, during the close of play on Tuesday. CSL's shares were heading for a positive finish before crashing 5% into the red during the closing auction on the news. Dr McKenzie is stepping down with immediate effect. CSL's chair, Dr Brian McNamee AO, said: "Paul and the Board have determined that now is the right time for new leadership to continue to drive CSL's strategic transformation and performance."
Gold price falls
ASX 200 gold shares such as Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a relatively poor session on Wednesday after the gold price fell overnight. According to CNBC, the gold futures price is down 0.65% to US$5,048 per ounce. Traders were taking profit ahead of the release of US jobs and inflation data.
Buy WiseTech shares
WiseTech Global Ltd (ASX: WTC) shares are undervalued according to analysts at Bell Potter. This morning, the broker has reaffirmed its buy rating on the logistics solutions company's shares with a trimmed price target of $87.50 (from $100.00). It said: "WiseTech is currently trading on an FY27 EV/EBITDA multiple of c.18x which is the lowest forward multiple in its listed history of almost ten years." It adds that "the recent sell-off in the share price and the reduction in the forward EV/EBITDA multiple is unjustified and represents a key buying opportunity."
