On Tuesday, the S&P/ASX 200 Index (ASX: XJO) had a volatile but positive day. The benchmark index ended the session 0.35% higher at 8,886.8 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 tumble
The Australian share market is expected to fall on Wednesday following a mixed session on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 41 points or 0.45% lower. In the United States, the Dow Jones fell 0.45%, but the S&P 500 climbed 0.35% and the Nasdaq rose 0.75%.
Oil prices mixed
ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) will be on watch after a mixed night for oil prices. According to Bloomberg, the WTI crude oil price is up 0.2% to US$96.62 a barrel and the Brent crude oil price is down 0.55% to US$104.17 a barrel. Traders appear to be waiting for further developments in the Middle East.
Westpac shares given trim rating
Following its results release this week, the team at Morgans has told investors to trim their holdings in Australia's oldest bank and revised its price target of $32.32. Commenting on Westpac Banking Corp (ASX: WBC), the broker said: "2H26 EPS and DPS were flat vs 1H26 and below consensus expectations. FY27F EPS downgraded c.5%. Target price +2% to $32.32/sh. Achieving FY29 financial targets requires significant outperformance of our forecast. At current prices, potential TSR is -9%. Trading multiples remain stretched. Four-year equity IRR is c.3% pa, well below opportunity cost. TRIM overweight positions."
Gold price falls
It could be a poor session for ASX 200 gold shares Westgold Resources Ltd (ASX: WGX) and Northern Star Resources Ltd (ASX: NST) after the gold price fell overnight. According to CNBC, the gold futures price is down 1% to US$3,929.4 an ounce. This was driven by strength in bond yields and the US dollar.
Trim Boss Energy shares
The team at Morgans has also put a trim rating on Boss Energy Ltd (ASX: BOE) shares with a price target of $1.35. It was pleased with the company's quarterly update, but doesn't see enough value on offer for investors. Morgans said: "Honeymoon beats despite weather disruptions – Drummed production of 359klbs beat MorgansF (+8%) and Consensus (+17%), despite 19 lost production days from heavy rainfall during August. Record IX flow rates largely offset declining tenor, while FY27 guidance remains unchanged. Wide-spaced transition remains the key value driver – BOE commenced flushing at the first wide-spaced wellfield, with early results supporting BOE's confidence in the design."
