On Tuesday, the S&P/ASX 200 Index (ASX: XJO) was back on form and recorded a solid gain. The benchmark index rose 0.4% to 7,015.2 points.
Will the market be able to build on this on Wednesday? Here are five things to watch:
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ASX 200 expected to edge higher
The Australian share market looks set to edge higher on Wednesday despite a subdued night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 8 points or 0.1% higher this morning. In late trade on Wall Street, the Dow Jones is up 0.2%, but the S&P 500 and the Nasdaq are flat.
Oil prices rebound
It could be a good session for ASX 200 energy shares such as Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) after oil prices rebounded overnight. According to Bloomberg, the WTI crude oil price is up 2.2% to US$76.51 a barrel and the Brent crude oil price is up 2.2% to US$81.74 a barrel. Traders were buying oil ahead of OPEC's meeting.
AGMs to watch
A number of annual general meetings will be taking place today. Holding their meetings are Harvey Norman Holdings Limited (ASX: HVN), Lynas Rare Earths Ltd (ASX: LYC), and Sandfire Resources Ltd (ASX: SFR). It's possible that these companies could provide trading updates at their events.
Gold price rises
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a good session on Wednesday after the gold price pushed higher again. According to CNBC, the spot gold price is up 1.45% to US$2,041.8 an ounce. Further US dollar weakness boosted the precious metal.
ASX 200 shares going ex-dividend
A couple of ASX 200 shares are going ex-dividend this morning and could trade lower. These are grain exporter Graincorp Ltd (ASX: GNC) and gold mining giant Newmont Corporation (ASX: NEM). Eligible shareholders can look forward to receiving their 30 cents per share and 42.7 cents per share dividends, respectively, in the coming weeks.
