5 things to watch on the ASX 200 on Wednesday

Here’s what to expect 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) gave back the majority of its intraday gains and ended the day marginally higher. The benchmark index rose slightly to 7,443.4 points.

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

ASX 200 poised to rise

The Australian share market looks set to edge higher on Wednesday. According to the latest SPI futures, the ASX 200 is expected to open the day 3 points higher this morning. This follows a solid night on Wall Street, which in late trade sees the Dow Jones up 0.3%, the S&P 500 up 0.4%, and the Nasdaq trading 0.2% higher.

A2 Milk investor update

The A2 Milk Company Ltd (ASX: A2M) share price will be one to watch closely on Wednesday. This morning the embattled infant formula company will be releasing an investor update and is expected to provide details on a renewed strategy in China, product development, and marketing. It’s also possible that the company will release a first quarter update at the event.

Oil prices rise

Energy producers such as Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) could rise today after a solid night for oil prices. According to Bloomberg, the WTI crude oil price is up 1% to US$84.62 a barrel and the Brent crude oil price has risen 0.5% to US$86.41 a barrel. Oil prices have hit multi-year highs due to supply shortages.

Gold price falls

Gold miners Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could fall today after the gold price dropped. According to CNBC, the spot gold price is down 0.65% to US$1,794.9 an ounce. A stronger US dollar and improving risk sentiment weighed on gold.

ASX 200 AGMs

There are a number of ASX 200 companies holding their annual general meetings today. The likes of health supplements company Blackmores Limited (ASX: BKL), investment platform provider Netwealth Group Ltd (ASX: NWL), and retail giant Woolworths Group Ltd (ASX: WOW) are holding their events virtually and could provide trading updates.

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

Latest ASX 200 shares to make it on top brokers’ buy list

Could the Beach Energy (ASX:BPT) share price hit $1.70 by Christmas?

Here are the top 10 ASX shares today

Here are 10 years of ASX 200 historical returns

These 3 ASX 200 shares are topping the volume charts this Tuesday

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. owns shares of and has recommended Netwealth. The Motley Fool Australia owns shares of and has recommended Blackmores Limited and Netwealth. The Motley Fool Australia has recommended A2 Milk. 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!