Insights

5 things to watch on the ASX 200 on Wednesday

CSL Limited (ASX:CSL) and Orora Ltd (ASX:ORA) shares will be on watch on the ASX 200 on Wednesday. Here’s why…
The post 5 things to watch on the ASX 200 on Wednesday appeared first on Motley Fool Australia. –

ASX share

On Tuesday the S&P/ASX 200 Index (ASX: XJO) followed the lead of U.S. markets and dropped lower. The benchmark index fell 0.7% to 6,184.6 points.

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

ASX 200 expected to edge higher.

It looks set to be a better day of trade for the ASX 200 on Wednesday. According to the latest SPI futures, the ASX 200 is poised to open the day 2 points higher. This follows a strong night on Wall Street which in late trade sees the Dow Jones up 0.55%, the S&P 500 0.65% higher, and the Nasdaq climbing 0.5%. This follows comments by Nancy Pelosi that she is optimistic that a stimulus deal will be reached.

Oil prices rise.

Energy shares Oil Search Limited (ASX: OSH) and Santos Ltd (ASX: STO) could be on the rise today after oil prices pushed higher. According to Bloomberg, the WTI crude oil price is up 1.7% to US$41.51 a barrel and the Brent crude oil price is up 0.8% to US$42.96 a barrel. Stimulus hopes gave oil prices a lift.

Annual general meetings.

The annual general meetings continue on Wednesday with both Orora Ltd (ASX: ORA) and Service Stream Limited (ASX: SSM) scheduled to hold their virtual meetings. Both the packaging company and the essential network services company could provide trading updates at their respective meetings.

Gold price higher.

Gold miners Evolution Mining Ltd (ASX: EVN) and Saracen Mineral Holdings Limited (ASX: SAR) will be on watch after the gold price strengthened. According to CNBC, the spot gold price is up 0.15% to US$1,914.40 an ounce following a softening U.S. dollar and stimulus optimism.

CSL rated as a buy.

The CSL Limited (ASX: CSL) share price still has further to run according to analysts at Goldman Sachs. According to a note, the broker has retained its buy rating and lifted its price target on the biotherapeutics company’s shares to $329.00. This follows the company’s R&D day on Tuesday. Overall, it was pleased with its update and has increased its valuation in response to the products under development.

Man who said buy Kogan shares at $3.63 says buy these 3 ASX stocks 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.*

In this FREE STOCK REPORT, Scott just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. These stocks are trading at dirt-cheap prices and Scott thinks these could really go gangbusters as we move into ‘the new normal’.

Find out the names of our 3 Post COVID Stocks – For FREE!

*Returns as of 6/8/2020

More reading

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia has recommended Service Stream Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post 5 things to watch on the ASX 200 on Wednesday appeared first on 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!