On Tuesday, the S&P/ASX 200 Index (ASX: XJO) had a subdued session and edged lower. The benchmark index fell 0.1% to 9,066.7 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 sink
The Australian share market looks set for a disappointing session on Wednesday following a poor night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 78 points or 0.85% lower. In the United States, the Dow Jones fell 0.8%, the S&P 500 dropped 0.7%, and the Nasdaq sank 1%.
Oil prices jump
ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a good session on Wednesday after oil prices jumped overnight. According to Bloomberg, the WTI crude oil price is up 5.7% to US$90.65 a barrel and the Brent crude oil price is up 5.1% to US$95.13 a barrel. This was driven by an escalation in US-Iran tensions.
Buy Catalyst Metals shares
Bell Potter thinks that Catalyst Metals Ltd (ASX: CYL) shares could be worth considering. This morning, the broker has retained its buy rating on the gold miner's shares with a trimmed price target of $12.80 (from $13.25). It said: "FY26 was a significant year for CYL, building operationally and financially YoY, achieving guidance. Our FY27 outlook remains unchanged (128koz for $2,833/oz AISC), subject to the September 2026 guidance and strategy release. We lower our TP to $12.80/sh and retain Buy."
Gold price tumbles
ASX 200 gold shares Westgold Resources Ltd (ASX: WGX) and Northern Star Resources Ltd (ASX: NST) could have a poor session on Wednesday after the gold price tumbled. According to CNBC, the gold futures price is down 2.4% to US$4,375 an ounce. A stronger US dollar and US treasury yields weighed on the precious metal.
Buy GrainCorp shares
Bell Potter is also tipping Graincorp Ltd (ASX: GNC) shares as a buy this week with an improved price target of $7.15 (from $5.90). Commenting on its recommendation, the broker said: "The ABARE crop report is positive and likely to lead to consensus upgrades. However, the margin backdrop at this point, in terms of both grain basis and oilseed crush margins, looks possibly the strongest it has for three years. To us this is key, as consensus FY27e expectations (which this crop estimate underwrites) looks to be carrying forward the margin environment of FY25-26e, which was materially weaker. This implies that there is both volume and margin upside potential within consensus FY27e expectations."
