On Tuesday, the S&P/ASX 200 Index (ASX: XJO) continued its positive run and pushed higher. The benchmark index rose 0.25% to 8,958.9 points.
Will the market be able to build on this on Wednesday? Here are five things to watch:
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ASX 200 to rise again
The Australian share market looks set to rise on Wednesday after a decent night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 54 points or 0.6% higher this morning. In late trade in the United States, the Dow Jones is up 0.25%, the S&P 500 is up 0.4% and the Nasdaq is 0.5% higher.
Oil prices fall
ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a poor session on Wednesday after oil prices tumbled into the red overnight. According to Bloomberg, the WTI crude oil price is down 0.9% to US$62.33 a barrel and the Brent crude oil price is down 1.8% to US$67.42 a barrel. Traders were selling oil down after Iran made progress with its nuclear talks with the United States.
NAB shares on watch
National Australia Bank Ltd (ASX: NAB) shares will be on watch on Wednesday when it becomes the last of the big four to release an update this month. The rest of the major banks delivered solid updates, so expectations are high for this one. Also scheduled to release results today are Sonic Healthcare Ltd (ASX: SHL), Lottery Corporation Ltd (ASX: TLC), and Suncorp Group Ltd (ASX: SUN).
Gold price sinks
ASX 200 gold shares such as Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a difficult session on Wednesday after the gold price sank overnight. According to CNBC, the gold futures price is down 2.9% to US$4,899.3 an ounce. Traders were selling gold (and silver) as they awaited delayed economic data and responded to easing US-Iranian tensions.
CBA shares go ex-dividend
Commonwealth Bank of Australia (ASX: CBA) shares are going ex-dividend this morning and could trade lower. Last week, Australia's largest bank released its half-year results and reported a cash net profit of $5.45 billion. This was an increase of 6% on the prior corresponding period and allowed the CBA board to declare a fully franked interim dividend of $2.35 per share. Eligible CBA shareholders can look forward to receiving this payout next month on 30 March.
