On Tuesday, the S&P/ASX 200 Index (ASX: XJO) had a subdued session and edged into the red. The benchmark index fell slightly to 9,022.3 points.
Will the market be able to bounce back from this on Wednesday? Here are five things to watch:
ASX 200 to rebound
The Australian share market looks set to rebound on Wednesday after a stronger night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 60 points or 0.65% higher this morning. In late trade in the United States, the Dow Jones is up 0.85%, the S&P 500 is up 0.75% and the Nasdaq is 1% 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 fell overnight. According to Bloomberg, the WTI crude oil price is down 0.6% to US$65.89 a barrel and the Brent crude oil price is down 0.6% to US$71.06 a barrel. Traders were selling oil after US-Iran talks continued.
WiseTech shares on watch
WiseTech Global Ltd (ASX: WTC) shares will be on watch on Wednesday when the logistics solutions technology company releases its eagerly anticipated half-year results. According to a note out of Morgans, its analysts are expecting revenue of $660.6 million and EBITDA of $248 million. This will be a 73.4% and 28.9% increase over the prior corresponding period. Underlying NPATA is expected to be down 10.7% to $100.1 million.
Gold price falls
ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a tough session on Wednesday after the gold price fell overnight. According to CNBC, the gold futures price is down 0.8% to US$5,184 an ounce. This was driven by a stronger US dollar.
Buy Monadelphous shares
Monadelphous Group Ltd (ASX: MND) shares could be in the buy zone according to Bell Potter. In response to its half-year results, the broker has retained its buy rating with an improved price target of $37.00. It said: "We retain the Buy recommendation. We expect MND can sustain current strong operating momentum across the Group in the short-term given its contracted position and further work package awards likely to land in 2H FY26. MND's increasing liquidity gives the company optionality to lean aggressively on M&A or return excess capital to shareholders."
The post 5 things to watch on the ASX 200 on Wednesday appeared first on The Motley Fool Australia.
Motley Fool contributor James Mickleboro has positions in WiseTech Global. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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