5 things to watch on the ASX 200 on Wednesday

Afterpay Ltd (ASX:APT) and Evolution Mining Ltd (ASX:EVN) shares will be on watch on the ASX 200 on Wednesday. Here's why…

watch

Image source: Getty Images

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 (ASX: XJO) was on form again and pushed higher. The benchmark index rose 0.5% to 6,771.2 points.

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

ASX 200 futures pointing higher

It looks set to be another positive day for the Australian share market on Wednesday after Wall Street rallied higher. According to the latest SPI futures, the ASX 200 is poised to open the day 27 points or 0.40% higher this morning. In late trade in the United States, the Dow Jones is up 0.8%, the S&P 500 is up 2%, and the Nasdaq index is trading 4.1% higher.

Tech shares to rebound

It looks set to be a very good day for Australian tech shares such as Afterpay Ltd (ASX: APT) and Altium Limited (ASX: ALU) on Wednesday. This follows a material rebound on the Nasdaq index overnight. In late trade the tech-heavy index is up a massive 4.1%. Among the biggest movers has been electric vehicle giant Tesla with a 20% gain. A decline in bond yields sent investors rushing back into beaten down tech stocks.

Oil prices drop

Energy producers such as Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could come under pressure today after the oil price rally fizzled out. According to Bloomberg, the WTI crude oil price is down 1.7% to US$63.94 a barrel and the Brent crude oil price has fallen 1.1% to US$67.45 a barrel. Easing concerns of supply disruptions in Saudi Arabia weighed on oil prices.

Gold price rebounds

Gold miners Evolution Mining Ltd (ASX: EVN) and Resolute Mining Limited (ASX: RSG) could charge higher today after the gold price rebounded. According to CNBC, the spot gold price is up 2.2% to US$1,716.20 an ounce. Traders were buying gold after bond yields pulled back.

Shares going ex-dividend

Another group of shares will be going ex-dividend this morning and could trade lower. This includes logistics solutions company Brambles Limited (ASX: BXB), horticulture company Costa Group Holdings Ltd (ASX: CGC), gold miner Regis Resources Limited (ASX: RRL), and plumbing parts company Reliance Worldwide Corporation Ltd (ASX: RWC).

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and recommends Altium. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of AFTERPAY T FPO and Reliance Worldwide Limited. The Motley Fool Australia owns shares of and has recommended COSTA GRP FPO. The Motley Fool Australia has recommended Reliance Worldwide Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Market News

Happy young woman saving money in a piggy bank.
Share Market News

Buy these ASX dividend shares to beat term deposits

These shares could be superior to term deposits according to analysts.

Read more »

The silhouettes of ten people holding hands with their arms raised against the sky, as the sun rises or sets in the background.
Share Gainers

Here are the top 10 ASX 200 shares today

The ASX was back to the races this Tuesday.

Read more »

A young woman sits with her hand to her chin staring off to the side thinking about her investments.
Opinions

Could Soul Patts shares hit $50 in 2025?

This company jumped more than 16% yesterday.

Read more »

Stethoscope with a piggy bank in the middle.
Broker Notes

Australian health insurance: Does Macquarie prefer Medibank or NIB shares?

Medibank and NIB shares have both surged in 2025. Here’s what Macquarie expects now.

Read more »

A woman reaches her arms to the sky as a plane flies overhead at sunset.
Travel Shares

Why the Qantas share price soared 20% in May to new all-time highs

With another stellar month in May, Qantas shares are up more than 79% in a year.

Read more »

Man smiling at a laptop because of a rising share price.
Broker Notes

9 ASX 200 shares just upgraded to strong buy ratings

Brokers have upgraded these shares amid expectations of price growth over the next 12 months.

Read more »

A man clenches his fists in excitement as gold coins fall from the sky.
Share Gainers

Why DroneShield, Judo, Pepper Money, and Strickland shares are surging today

These shares are having a good session on Tuesday. But why?

Read more »

A young woman holds an open book over her head with a round mouthed expression as if to say oops as she looks at her computer screen in a home office setting with a plant on the desk and shelves of books in the background.
Share Fallers

Why Elders, IDP Education, Life360, and Pilbara Minerals shares are falling today

Let's see why investors are selling these shares.

Read more »