On Thursday the S&P/ASX 200 Index (ASX: XJO) was on form again and charged higher. The benchmark index rose 0.5% to 7,428 points.
Will the market be able to build on this on Friday? Here are five things to watch:
ASX 200 expected to rise again
The Australian share market looks set to end the week on a positive note. According to the latest SPI futures, the ASX 200 is expected to open the day 23 points or 0.3% higher. This follows a decent night of trade on Wall Street, which late on sees the Dow Jones down 0.35%, but the S&P 500 up 0.3% and the Nasdaq up 0.85%.
REA Group quarterly update
The REA Group Limited (ASX: REA) share price will be one to watch today when it releases its first quarter update. Lockdowns in Melbourne and Sydney are expected to have weighed on the property listings company’s performance, offsetting some of the benefits of the booming housing market. The team at Goldman Sachs is forecasting full year EBITDA growth of 8.6% in FY 2022.
Oil prices fall again
Energy producers including Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could end the week in the red after oil prices dropped again. According to Bloomberg, the WTI crude oil price is down 2.5% to US$78.84 a barrel and the Brent crude oil price is down 1.9% to US$80.45 a barrel. Traders were selling oil after OPEC agreed to stick to its production growth plans.
Westpac shares go ex-dividend
The Westpac Banking Corp (ASX: WBC) share price is likely to trade notably lower on Friday. This is because this morning the banking giant’s shares will trade ex-dividend for its fully franked 60 cents per share final dividend. This dividend will then be paid to eligible shareholders next month on 21 December.
Gold price rebounds
Gold miners Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) could have a good finish to the week after the gold price stormed higher. According to CNBC, the spot gold price is up 1.7% to US$1,793.7 an ounce. Traders were buying gold after the US Federal Reserve signalled that it would be patient with rate hikes.
The post 5 things to watch on the ASX 200 on Friday appeared first on The Motley Fool Australia.
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More reading
- Here are the 3 most heavily traded ASX 200 shares on Thursday
- Here are the top 10 ASX shares today
- Why is the Woodside (ASX:WPL) share price slipping and sliding today?
- These were the 5 best performing ASX retail shares in October
- Why the Amcor (ASX:AMC) share price is outperforming today
Motley Fool contributor James Mickleboro owns shares of Westpac Banking Corporation. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended REA Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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