On Wednesday the S&P/ASX 200 Index (ASX: XJO) continued its positive run and charged higher again. The benchmark index rose 0.5% to 6,531.1 points.
Will the market be able to build on this on Thursday? Here are five things to watch:
ASX 200 poised to rise gain.
The Australian share market looks set to continue its positive run despite a weak night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to rise 27 points or 0.4% at the open. In late trade on Wall Street, the Dow Jones is down 0.15%, the S&P 500 has fallen 0.3%, and the Nasdaq is down 0.15%.
Crown told to delay Crown Sydney opening.
The Crown Resorts Ltd (ASX: CWN) share price will be one to watch this morning when it returns from its trading halt. The casino and resorts operator has been told by the New South Wales Independent Liquor and Gaming Authority (ILGA) to delay the opening of Crown Sydney. The gambling regulator has concerns over money laundering and will decide whether it is fit and proper to run the casino in February. Crown Sydney was due to open next month.
Oil prices rise.
It could be a good day for energy shares such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) after oil prices pushed higher. According to Bloomberg, the WTI crude oil price is up 1.6% to US$42.09 a barrel and the Brent crude oil price is up 2% to US$44.61 a barrel. Oil prices were given a boost by news that Pfizer has revised the effectiveness of its COVID-19 vaccine to 95%.
Annual general meetings.
A number of companies are holding their annual general meetings on Thursday and could provide updates at their events. This includes the likes of electronic design software provider Altium Limited (ASX: ALU) and job listings giant SEEK Limited (ASX: SEK).
Gold price lower.
Gold miners including Newcrest Mining Limited (ASX: NCM) and Saracen Mineral Holdings Limited (ASX: SAR) could come under pressure today after the Pfizer COVID vaccine news weighed on the safe haven asset. According to CNBC, the spot gold price is down 0.75% to US$1,871.30 an ounce.
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More reading
- ASX 200 rises again on Wednesday
- Crown (ASX:CWN) share price on watch after being told to delay Crown Sydney opening
- 2 ASX shares making all-time highs today
- ASX stock of the day: Redbubble (ASX:RBL) shares up 5% today
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James Mickleboro owns shares of SEEK Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Altium. The Motley Fool Australia has recommended Crown Resorts Limited and SEEK Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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