Insights

5 things to watch on the ASX 200 on Wednesday

Amcor CDI (ASX:AMC) and Carsales.Com Ltd (ASX:CAR) shares will be on watch on the ASX 200 on Wednesday…
The post 5 things to watch on the ASX 200 on Wednesday appeared first on The Motley Fool Australia. –

watch broker buy

On Tuesday the S&P/ASX 200 Index (ASX: XJO) was on form again and recorded another impressive gain. The benchmark index raced 1.5% higher to 6,762.6 points.

Will the market be able to build on this on Wednesday? Here are five things to watch:

ASX 200 futures pointing higher

It looks set to be another positive day of trade for the ASX 200 on Wednesday. According to the latest SPI futures, the ASX 200 is poised to open the day 57 points or 0.85% higher this morning. This follows another strong night of trade on Wall Street. In late trade the Dow Jones is up 1.9%, the S&P 500 is 1.7% higher, and the Nasdaq is also trading 1.7% higher. Markets appear to be moving on from the GameStop mania.

Oil prices push higher

Energy producers such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could be on the rise today after another positive night for oil prices. According to Bloomberg, the WTI crude oil price is up 2.3% to US$54.78 a barrel and the Brent crude oil price has climbed 2.1% to US$57.51 a barrel. Oil prices pushed higher after producers committed to their output caps.

Amcor results

The Amcor CDI (ASX: AMC) share price will be on watch today when it released its half year results. According to a note out of Morgans, it is expecting the packaging giant to deliver a strong result. Particularly given its strong start to the financial year, which saw the company deliver a 20% increase in earnings per share during the first quarter. Amcor’s services were recognised as an essential service during the pandemic.

Gold (and silver) price sinks

Gold miners including Newcrest Mining Ltd (ASX: NCM) and Saracen Mineral Holdings Limited (ASX: SAR) could come under pressure today after the gold price sank lower. According to CNBC, the spot gold price is down 1.5% to US$1,833.20 an ounce. Elsewhere, the silver price came crashing back down to earth and dropped 9% during overnight trade after the Reddit trade fizzled out.

Carsales upgraded to buy rating

The Carsales.Com Ltd (ASX: CAR) share price is in the buy zone according to analysts at Goldman Sachs. This morning the broker upgraded the auto listings company’s shares to a buy rating with a $22.60 price target. It commented: “Despite consensus earnings upgrades since vaccines emerged, CAR multiples have compressed to the extent it now trades at a 21% 12mf EV/EBITDA discount to AU classified peers, its greatest level in recent history.”

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of June 30th

More reading

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Amcor Limited. The Motley Fool Australia has recommended carsales.com Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post 5 things to watch on the ASX 200 on Wednesday appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!