5 things to watch out for on the ASX 200 on Wednesday, September 22, 2021
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Tuesday the S & P / ASX 200 Index (ASX: XJO) got back in shape and pushed higher. The benchmark index rose 0.35% to 7,273.8 points.
Will the market be able to take advantage of this on Wednesday? Here are five things to watch out for:
ASX 200 Futures Pointing Down
The Australian equity market is expected to fall on Wednesday. According to the latest SPI futures, the ASX 200 is about to open the day 11 points or 0.15% lower. This follows a disappointing night on Wall Street which saw the Dow Jones drop 0.15%, the S&P 500 drop 0.1%, but the Nasdaq rise 0.2%. US markets roared at the start of trading, but eventually gave up their gains.
Harvey Norman shares revalued
The Harvey Norman Holdings Limited (ASX: HVN) The stock price could be in the buy zone according to Goldman Sachs analysts. This morning, the broker upgraded the retail giant’s shares to a buy rating with a price target of $ 6.00. Goldman believes Harvey Norman is well positioned to take advantage of the stronger outlook in housing-related categories like appliances and furniture.
Oil prices rise
Energy producers Beach Energy Ltd (ASX: BPT) and Santos SA (ASX: STO) could have a decent day after the rise in oil prices. According to Bloomberg, the price of WTI crude oil is up 0.3% to US $ 70.51 per barrel and the price of Brent crude oil is up 0.8% to US $ 74.53 per barrel. Tight supply in the United States pushed up prices.
Today is payday for the shareholders of a number of ASX 200 shares. Paying their final dividends this morning are the likes of Challenger Ltd. (ASX: CGF), Insurance Australia Group Ltd (ASX: IAG), Sandfire Resources Ltd. (ASX: SFR), Sonic Healthcare Limited (ASX: SHL), and Suncorp Group Ltd. (ASX: SUN).
The price of gold goes up
Gold miners Evolution Mines Ltée (ASX: EVN) and Newcrest Mining Limited (ASX: NCM) could have a good day after the price of gold surges overnight. According to CNBC, the spot gold price was up 0.6% to US $ 1,775.0 an ounce. Evergrande fears continue to weigh on sentiment and boost gold’s appeal.