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) fought hard but ultimately dropped into the red. The benchmark index fell 0.25% to 7,434.2 points.

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

ASX 200 poised to rise

The Australian share market looks set to rebound on Wednesday despite Wall Street coming under pressure overnight. According to the latest SPI futures, the ASX 200 is expected to open the day 17 points or 0.25% higher this morning. On Wall Street, in late trade the Dow Jones is down 0.7%, the S&P 500 is down 0.5%, and the Nasdaq is trading 0.7% lower.

NAB shares remain a buy

The National Australia Bank Ltd (ASX: NAB) share price could be good value according to the team at Goldman Sachs. This morning the broker retained its conviction buy rating and lifted its price target on the bank’s shares to $31.15. While NAB delivered a slightly softer than expected full year result on Tuesday, Goldman remains positive. This is due to the progress of its cost management initiatives and its position as the largest business bank.

Oil prices rise

Energy producers such as Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) could push higher today after oil prices rose again. According to Bloomberg, the WTI crude oil price is up 2.5% to US$83.98 a barrel and the Brent crude oil price has risen 1.4% to US$84.59 a barrel. The lifting of the US travel ban has given demand a boost.

Gold price edges higher

Gold miners Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a decent day after the gold price edged higher. According to CNBC, the spot gold price is up 0.2% to US$1,831.80 an ounce. Traders have been bidding gold higher ahead of the upcoming release of US inflation data.


A number of ASX 200 shares are holding their annual general meetings today and could provide the market with updates at their respective events. Among the companies meeting today are Beach Energy Ltd (ASX: BPT), Clinuvel Pharmaceuticals Limited (ASX: CUV), Coles Group Ltd (ASX: COL), and Newcrest Mining Ltd (ASX: NCM).

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

Beach Energy (ASX:BPT) share price dips amid news Seven may dump 30% holding

Here are the top 10 ASX shares today

The IAG (ASX:IAG) share price has gone backwards so far in 2021. Here’s why

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

Why Actinogen, AVITA, Inghams, and NAB shares are falling

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 COLESGROUP DEF SET. 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!