5 things to watch on the ASX 200 on Wednesday

Here’s what to 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. –

On Tuesday the S&P/ASX 200 Index (ASX: XJO) fought back again from an early decline to finish the day marginally higher. The benchmark index rose slightly to 7,530.3 points.

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

ASX 200 expected to fall

The Australian share market is expected to fall on Wednesday. According to the latest SPI futures, the ASX 200 is expected to open the day 20 points or 0.3% lower this morning. This follows a disappointing night of trade on Wall Street, which saw the Dow Jones fall 0.75%, the S&P 500 drop 0.35%, and the Nasdaq edge 0.05% higher.

Macquarie shares given neutral rating

The Macquarie Group Ltd (ASX: MQG) share price could be fully valued according to analysts at Goldman Sachs. According to a note, the broker has retained its neutral rating but lifted its price target on the investment bank’s shares to $156.52. Goldman lifted its price target after revising its earnings estimates higher to reflect Macquarie’s recent AGM update and broader market conditions. However, it isn’t enough for a more positive rating due to valuation reasons.

Oil prices tumble

It could be a tough day for energy producers such as Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) after oil prices tumbled. According to Bloomberg, the WTI crude oil price is down 1.3% to US$68.38 a barrel and the Brent crude oil price is down 0.8% to US$71.63 a barrel. Oil prices fell on demand concerns.

Shares going ex-dividend

A number of ASX 200 shares are going ex-dividend today and could trade lower this morning. This includes health supplements company Blackmores Limited (ASX: BKL), supply chain logistics company Brambles Limited (ASX: BXB), private health insurer Medibank Private Ltd (ASX: MPL), and job listings giant SEEK Limited (ASX: SEK).

Gold price sinks

Gold miners Evolution Mining Ltd (ASX: EVN) and Newcrest Mining Limited (ASX: NCM) will be on watch on Wednesday after the gold price sank. According to CNBC, the spot gold price is down 2% to US$1,796.40 an ounce. A combination of a strong US dollar and higher yields took the shine off the precious metal.

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

Wondering where you should 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 could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of August 16th 2021

More reading

ASX 200 flat, Aussie Broadband shares halted, Openpay rises

Materials sector lagged the ASX 200 on Tuesday

Here are the 3 most heavily traded ASX 200 shares today

Here are the top 10 ASX 200 shares on Tuesday

ASX 200 bounces back as RBA holds interest rates

Motley Fool contributor James Mickleboro owns shares of SEEK Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Blackmores Limited and Macquarie Group Limited. The Motley Fool Australia has recommended SEEK Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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!