It was another disappointing day of trade for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) on Wednesday. The benchmark index finished the day 1.7% lower at 5,732.8 points.
Will the ASX 200 be able to bounce back on Thursday? Here are five things to watch:
ASX futures pointing higher.
According to the latest SPI futures, the ASX 200 is expected to open the day higher on Thursday. Futures contracts are pointing to a 0.2% or 13 point rise at the open. This is despite a disappointing night of trade on Wall Street which late in the session sees the Dow Jones down 0.9%, the S&P 500 0.8% lower, and the Nasdaq off 0.75%.
Oil prices rebound.
Shareholders of the likes of Oil Search Limited (ASX: OSH) and Santos Ltd (ASX: STO) will be breathing a sigh of relief this morning after oil prices stabilised. According to Bloomberg, the WTI crude oil price rose 0.8% to US$56.13 a barrel and the Brent crude oil price has pushed 0.8% to US$65.99 a barrel. News that OPEC may be considering a significant cut to its output next year has eased concerns of an impending supply glut.
Corporate Travel Management Ltd insider buying.
The Corporate Travel Management Ltd (ASX: CTD) share price managed to avoid the market selloff on Thursday with a 3% gain. One person that was buying shares yesterday was the embattled corporate specialist's CEO Jamie Pherous. He added an extra 70,000 shares to his holding for a total consideration of $1.56 million. This appears to have improved investor sentiment following the short seller attack.
Graincorp results.
The Graincorp Ltd (ASX: GNC) share price will be on watch today when it becomes the latest agriculture share to release its results. This follows recent releases by agribusiness companies Elders Ltd (ASX: ELD) and Ruralco Holdings Ltd (ASX: RHL).
Annual general meetings.
It is a busy day of annual general meetings. The likes of iron ore producer Fortescue Metals Group Limited (ASX: FMG), asset manager Platinum Asset Management Limited (ASX: PTM), medical device company ResMed Inc. (ASX: RMD), and conglomerate Wesfarmers Ltd (ASX: WES) are all scheduled to hold their respective events today and could provide updates.
