On Tuesday the S&P/ASX 200 index continued its positive run with another solid gain. The benchmark index ended the day 1.2% higher at 6,545 points.
Will the Australian share market be to build on this on Wednesday? Here are five things to watch:
ASX 200 expected to drop.
The Australian share market looks set to drop lower on Wednesday after a disappointing night of trade on Wall Street. According to the latest SPI futures, the ASX 200 index is due to open the day 48 points or 0.75% lower this morning. Over on Wall Street the Dow Jones fell 0.65%%, the S&P 500 index dropped 0.8%, and the Nasdaq tumbled 0.7% lower.
Oil prices edges higher.
Beach Energy Ltd (ASX: BPT) and Oil Search Limited (ASX: OSH) shares could be on the rise on Wednesday after oil prices pushed higher. According to Bloomberg, the WTI crude oil price rose 0.2% to US$56.34 a barrel and the Brent crude oil price climbed 0.6% to US$60.10 a barrel.. The catalyst for this was easing trade tensions lending support to the buy side.
A2 Milk Company full year results.
The A2 Milk Company Ltd (ASX: A2M) share price could be on the move this morning when it releases its full year results. According to Morgans, it expects the infant formula and fresh milk company to deliver a stronger than expected result. The broker expects EBITDA of NZ$431.3 million, which is higher than the market consensus of NZ$420.6 million.
Gold price rebounds.
It could be a better day of trade for the likes of Resolute Mining Limited (ASX: RSG) and St Barbara Ltd (ASX: SBM) after the gold price rebounded overnight. According to CNBC, the spot gold price climbed 0.4% to US$1,517.50 an ounce. This was driven by a decline in bond yields.
Results releases.
Once again a large number of results are due to be released today from some of Australia's most popular companies. Amongst the companies reporting today are Crown Resorts Ltd (ASX: CWN), Domino's Pizza Enterprises Ltd (ASX: DMP), and WiseTech Global Ltd (ASX: WTC).
