On Tuesday, the S&P/ASX 200 Index (ASX: XJO) had a very strong session and raced notably higher. The benchmark index rose 1.4% to 9,145.8 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 for another good session on Wednesday following a mixed night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 23 points or 0.25% higher. In late trade in the United States, the Dow Jones is up 1.9%, the S&P 500 is up 1.9%, and the Nasdaq is 2.8% higher.
Oil prices sink again
ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a tough session on Wednesday after oil prices sank again overnight. According to Bloomberg, the WTI crude oil price is down 5.7% to US$75.79 a barrel and the Brent crude oil price is down 5.2% to US$79.42 a barrel. Traders were selling oil in response to reports that the US and Iran could sign a Strait of Hormuz deal this week.
Buy Life360 shares
Bell Potter thinks Life360 Inc. (ASX: 360) shares are a top pick for Aussie investors right now. This morning, the broker retained its buy rating and $35.00 price target on this location technology company's shares. It said: "We see the stock as reasonable value trading on a 2027 EV/EBITDA multiple of c.25x which is a discount to the Technology One multiple of c.29x. We believe Life360 deserves to trade on a similar if not higher multiple than Technology One given it is global, a market leader and has higher forecast earnings growth over the next few years."
Gold price rises
ASX 200 gold shares including Westgold Resources Ltd (ASX: WGX) and Northern Star Resources Ltd (ASX: NST) could have a good session on Wednesday after the gold price charged higher. According to CNBC, the gold futures price is up 1.15% to US$4,137.4 an ounce. Lower oil prices have reduced US interest rate hike expectations.
Pinnacle FY 2026 results
Pinnacle Investment Management Group Ltd (ASX: PNI) shares will be on watch on Wednesday after the investment management company released its FY 2026 results. The company reported underlying NPAT (before one-offs) of $138 million, which is up 21% on the prior corresponding period. This allowed Pinnacle to declare a 65% franked final dividend of 31 cents per share.
