5 things to watch on the ASX 200 on Wednesday
On Tuesday, the S&P/ASX 200 Index (ASX: XJO) had a very strong session and raced notably higher. The benchmark index rose 1.4% to 9,145.8 points.
Will the market be able to build on this on Wednesday? Here are five things to watch:
ASX 200 to rise again
The Australian share market looks set for another good session on Wednesday following a mixed night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 23 points or 0.25% higher. In late trade in the United States, the Dow Jones is up 1.9%, the S&P 500 is up 1.9%, and the Nasdaq is 2.8% higher.
Oil prices sink again
ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a tough session on Wednesday after oil prices sank again overnight. According to Bloomberg, the WTI crude oil price is down 5.7% to US$75.79 a barrel and the Brent crude oil price is down 5.2% to US$79.42 a barrel. Traders were selling oil in response to reports that the US and Iran could sign a Strait of Hormuz deal this week.
Buy Life360 shares
Bell Potter thinks Life360 Inc. (ASX: 360) shares are a top pick for Aussie investors right now. This morning, the broker retained its buy rating and $35.00 price target on this location technology company's shares. It said: "We see the stock as reasonable value trading on a 2027 EV/EBITDA multiple of c.25x which is a discount to the Technology One multiple of c.29x. We believe Life360 deserves to trade on a similar if not higher multiple than Technology One given it is global, a market leader and has higher forecast earnings growth over the next few years."
Gold price rises
ASX 200 gold shares including Westgold Resources Ltd (ASX: WGX) and Northern Star Resources Ltd (ASX: NST) could have a good session on Wednesday after the gold price charged higher. According to CNBC, the gold futures price is up 1.15% to US$4,137.4 an ounce. Lower oil prices have reduced US interest rate hike expectations.
Pinnacle FY 2026 results
Pinnacle Investment Management Group Ltd (ASX: PNI) shares will be on watch on Wednesday after the investment management company released its FY 2026 results. The company reported underlying NPAT (before one-offs) of $138 million, which is up 21% on the prior corresponding period. This allowed Pinnacle to declare a 65% franked final dividend of 31 cents per share.
The post 5 things to watch on the ASX 200 on Wednesday appeared first on The Motley Fool Australia.
Motley Fool contributor James Mickleboro has positions in Life360. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Life360 and Pinnacle Investment Management Group. The Motley Fool Australia has positions in and has recommended Life360 and Pinnacle Investment Management Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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