5 things to watch on the ASX on Wednesday

The shares of Bellamy's Australia Ltd (ASX:BAL), Macquarie Telecom Group Ltd (ASX:MAQ), and Telstra Corporation Ltd (ASX:TLS) will be on watch on Wednesday. Here's what you need to know…

a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

On Tuesday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) followed the lead of international markets and stormed 0.6% higher to 6,304.7 points.

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

ASX futures.

The Australian share market is expected to open the day lower on Wednesday. According to the latest SPI futures, the ASX is poised to open 0.1% or 6 points lower this morning. This is despite a positive night of trade on Wall Street which saw the Dow Jones and S&P 500 edge slightly higher and the Nasdaq rise 0.15%.

Oil prices slide.

Energy shares including Oil Search Limited (ASX: OSH) and Woodside Petroleum Limited (ASX: WPL) could come under pressure today after oil prices dropped lower. The WTI crude oil price fell 0.5% to US$68.53 a barrel and the Brent crude oil price dropped 0.4% to US$75.93 a barrel.

Bellamy's results.

Organic infant formula company Bellamy's Australia Ltd (ASX: BAL) is scheduled to release its results this morning. According to the Bloomberg consensus estimate, the market is expecting the company to deliver a net profit after tax of $45.7 million.

Macquarie Telecom results.

Another result due to be released this morning is from data centre, cloud, cyber security, and telecom company Macquarie Telecom Group Ltd (ASX: MAQ). Earlier this month the company upgraded its EBITDA guidance to be in the range of $47 million to $48 million. This exceeded its previous guidance of $44 million to $46 million.

Telstra shares go ex-dividend.

The shares of Telstra Corporation Ltd (ASX: TLS) are likely to drop lower this morning after trading ex-dividend. Eligible shareholders can look forward to receiving the telco giant's 11 cents per share final dividend on September 27. In addition to Telstra, the shares of Star Entertainment Group Ltd (ASX: SGR) and Super Retail Group Ltd (ASX: SUL) go ex-dividend this morning.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Telstra Limited. The Motley Fool Australia owns shares of Super Retail Group 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.

More on Share Market News

Man sits smiling at a computer showing graphs
Share Market News

Broker tips this fast-growing ASX 200 tech stock to outperform

Goldman Sachs is very bullish on the outlook of this growing tech company.

Read more »

A financial expert or broker looks worried as he checks out a graph showing market volatility.
Broker Notes

Top brokers name 3 ASX shares to buy today

Here's what brokers are recommending as buys this week.

Read more »

A young man wearing a black and white striped t-shirt looks surprised.
Broker Notes

Up 45% in 2024! Can ResMed shares keep rising?

Is this high-flying stock destined to keep soaring? Let's see what one broker is saying.

Read more »

Two male ASX 200 analysts stand in an office looking at various computer screens showing share prices
Share Market News

5 things to watch on the ASX 200 on Wednesday

Another big day awaits Aussie investors today. Here's what to look out for.

Read more »

Unsure man analysing data on laptop.
Share Gainers

Here are the top 10 ASX 200 shares today

ASX investors endured a rough day of trading this Tuesday.

Read more »

A woman sits in a cafe wearing a polka dotted shirt and holding a latte in one hand while reading something on a laptop that is sitting on the table in front of her
Share Market News

ASX 200 takes the latest RBA interest rate verdict in stride

The ASX 200 looks to have shaken off today’s RBA interest rate call.

Read more »

A mature-aged couple high-five each other as they celebrate a financial win and early retirement
Share Gainers

Why this ASX 300 stock is soaring 12% after a disastrous year

This company has had a dramatic reversal of fortunes this Tuesday...

Read more »

A young woman wearing overalls and a yellow t-shirt kicks one leg in the air showing excitement over the latest ASX 200 shares to hit 52-week highs
Share Gainers

Why Core Lithium, Imugene, Lifestyle Communities, and Mineral Resources shares are charging higher

These shares are having a good session. What's going on?

Read more »