On Tuesday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) returned to form and pushed 0.3% higher to 6,079.1 points
Will the market continue its positive form on Wednesday? Here are five things to watch:
ASX futures pointing higher.
The Australian share market is expected to build on yesterday's gain this morning. According to the latest SPI futures, the ASX 200 is poised to open 0.5% or 28 points higher following a positive night of trade on Wall Street. Late in the session the Dow Jones is up 1.5%, the S&P 500 has pushed 1.3% higher, and the Nasdaq is 1.4% higher.
Trade deal hopes lifted.
The U.S. market stormed higher overnight after President Trump said that he would consider postponing the March 2 deadline for tariffs. According to CNBC, this is on the proviso that the U.S. and China can reach a trade deal soon. Trump advised that he has a team in China working on a deal.
Oil prices surge higher.
Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) shares could be on the rise on Wednesday after oil prices surged higher overnight. According to Bloomberg, the WTI crude oil price is up 2.2% to US$53.58 a barrel and the Brent crude oil price climbed 1.5% to US$62.73 a barrel. Oil prices pushed higher after Saudi Arabia pledged to cut production by ~9.8 million barrels per day next month.
CBA shares trade ex-dividend.
The Commonwealth Bank of Australia (ASX: CBA) share price is likely to drop lower on Wednesday after trading ex-dividend for the banking giant's $2.00 per share interim dividend. This dividend will be paid to eligible shareholders on March 28.
Result releases.
It's a big day of results releases today with the likes of automotive aftermarket parts seller Bapcor Ltd (ASX: BAP), auto listings company Carsales.Com Ltd (ASX: CAR), and global biotech giant CSL Limited (ASX: CSL) all scheduled to release their results this morning.
