On Tuesday, the S&P/ASX 200 Index (ASX: XJO) ended the day in the red. The benchmark index fell 0.3% to 8,816.9 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 rebound
The Australian share market is expected to rise on Wednesday following a mixed session on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 32 points or 0.35% higher. In the United States, the Dow Jones rose 1% and the S&P 500 climbed 0.3%, but the Nasdaq was down a fraction.
Oil prices fall
ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a poor session after oil prices fell overnight. According to Bloomberg, the WTI crude oil price is down 2.5% to US$101.09 a barrel and the Brent crude oil price is down 0.5% to US$108.97 a barrel. Traders were selling oil amid optimism over diplomatic progress in the Middle East.
Sigma update
Sigma Healthcare Ltd (ASX: SIG) shares will be on watch on Wednesday when the Chemist Warehouse owner releases a trading update at its annual general meeting. Bell Potter is expecting the company to reveal that it started the financial year strongly. It said: "We expect 1Q27 network LFL network sales growth in the range of 12-13%."
Gold price falls
ASX 200 gold shares including Westgold Resources Ltd (ASX: WGX) and Northern Star Resources Ltd (ASX: NST) could have a subdued session after the gold price fell overnight. According to CNBC, the gold futures price is down 0.45% to US$4,141.3 an ounce. Traders were selling gold in response to rate hike fears.
Buy Pro Medicus shares
Pro Medicus Ltd (ASX: PME) shares could be a top pick for Aussie investors according to Morgans. It has upgraded the health imaging technology company's shares to a buy rating with a $230.00 price target. It said: "PME has announced a further seven-year, A$24m full stack cloud contract with Billings Clinic Logan Health, its third new community health system win in FY27 to date (A$72m TCV, A$10.3m new ARR). The FY27 wins are modest individually but consistent in size, term and scope, pointing to a repeatable mid-market playbook that broadens the pipeline beyond large Integrated Delivery Networks. Near-term focus shifts to RSNA in late November as the likely window for a larger deal, and to execution on a busy 1Q'CY27 go-live schedule underpinning FY28. We upgrade to a BUY (from Accumulate), with no change to our A$230 target price."
