Insights

5 things to watch on the ASX 200 on Wednesday

Here’s what to expect on the ASX 200 today…
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) returned to form and pushed higher. The benchmark index rose 0.35% to 7,273.8 points.

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

ASX 200 futures pointing lower

The Australian share market is expected to drop on Wednesday. According to the latest SPI futures, the ASX 200 is poised to open the day 11 points or 0.15% lower. This follows a disappointing night on Wall Street which saw the Dow Jones fall 0.15%, the S&P 500 drop 0.1%, but the Nasdaq rise 0.2%. US markets roared back in early trade but ultimately gave back their gains.

Harvey Norman shares upgraded

The Harvey Norman Holdings Limited (ASX: HVN) share price could be in the buy zone according to analysts at Goldman Sachs. This morning the broker upgraded the retail giant’s shares to a buy rating with a price target of $6.00. Goldman believes Harvey Norman is well positioned to capitalise on the stronger outlook for housing related categories like consumer appliances and furniture.

Oil prices rise

Energy producers Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a decent day after oil prices pushed higher. According to Bloomberg, the WTI crude oil price is up 0.3% to US$70.51 a barrel and the Brent crude oil price is up 0.8% to US$74.53 a barrel. Tighter US supplies boosted prices.

Dividends being paid

Today is payday for the shareholders of a number of ASX 200 shares. Paying their latest dividends this morning are the likes of Challenger Ltd (ASX: CGF), Insurance Australia Group Ltd (ASX: IAG), Sandfire Resources Ltd (ASX: SFR), Sonic Healthcare Limited (ASX: SHL), and Suncorp Group Ltd (ASX: SUN).

Gold price rises

Gold miners Evolution Mining Ltd (ASX: EVN) and Newcrest Mining Limited (ASX: NCM) could have a solid day after the gold price pushed higher overnight. According to CNBC, the spot gold price is up 0.6% to US$1,775.0 an ounce. Evergrande fears continue to weigh on sentiment and boost the appeal of gold.

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

2 excellent ASX dividend shares named as buys

How does the AFIC (ASX:AFI) share price compare to its net tangible assets?
IAG (ASX:IAG) share price gains after Chief Risk Officer resignation
Here are the ASX 200’s most active shares this Tuesday

ASX 200 rebounds into positive territory led by energy and materials shares

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. 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 Challenger Limited and Insurance Australia Group Limited. The Motley Fool Australia has recommended Harvey Norman Holdings Ltd. and Sonic Healthcare 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!