On Tuesday the benchmark S&P/ASX 200 index continued its decline and dropped 0.5% to 6,325.5 points.
Will the market be able to bounce back on Wednesday? Here are five things to watch:
ASX futures pointing higher.
The Australian share market looks set for a positive day of trade on Wednesday. According to the latest SPI futures, the ASX 200 is poised to open the day 9 points or 0.15% higher this morning. This follows a mixed night of trade on Wall Street which saw the Dow Jones rise 0.15%, the S&P 500 climb 0.1%, and the Nasdaq slide 0.65%.
ANZ half year results.
All eyes will be on the Australia and New Zealand Banking Group (ASX: ANZ) share price this morning when it releases its half year results. According to a note out of Goldman Sachs, its analysts have forecast a 1.4% decline in cash earnings from continued operations (pre one-offs) to $3,445 million. In addition to this, Goldman expects the bank to maintain its interim dividend at 80 cents per share.
Westpac accounting provisions.
The Westpac Banking Corp (ASX: WBC) share price will be on watch this morning following a late announcement on Tuesday which revealed accounting provisions for remediation associated with authorised representatives in relation to certain ongoing advice service fees. Westpac expects its first half cash earnings to be reduced by a further $357 million for accounting provisions associated with this matter.
Oil prices higher.
Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) shares could be on the rise on Wednesday after oil prices pushed higher. According to Bloomberg, the WTI crude oil price climbed 0.4% to US$63.77 a barrel and the Brent crude oil price pushed 1.1% higher to US$72.80 a barrel.
SEEK guidance update.
The SEEK Limited (ASX: SEK) share price could come under pressure this morning after the job listings giant released a trading update. SEEK advised that it has continued to see a slowdown in macro conditions in a number of its key markets. This has resulted in "an easing of ad volume and billing growth." In addition to this, it downgraded its full year net profit guidance due to investments and funding costs.
