On Thursday, the S&P/ASX 200 Index (ASX: XJO) edged lower due largely to weakness in the tech sector. The benchmark index fell 0.15% to 7,078 points.
Will the market be able to bounce back from this on Friday and end the week on a high? Here are five things to watch:
ASX 200 expected to tumble
The Australian share market looks set to end the week in the red. According to the latest SPI futures, the ASX 200 is expected to open the day 0.8% lower this morning. This follows a very poor night on Wall Street, which late on sees the Dow Jones down 0.85%, the S&P 500 down 1.7%, and the Nasdaq down 2.7%.
REA Group half year results
The REA Group Limited (ASX: REA) share price will be one to watch today when it releases its half year results. According to a note out of Goldman Sachs, its analysts are expecting the property listings company to outperform the market’s expectations with revenue of $592 million and EBITDA of $373 million. This is ahead of the consensus estimates by 4% and 7%, respectively.
Oil prices storm higher
Energy producers including Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could have a great day after oil prices stormed higher. According to Bloomberg, the WTI crude oil price is up 2.2% to US$90.19 a barrel and the Brent crude oil price is up 1.8% to US$91.05 a barrel. Oil prices stormed higher amid further supply concerns.
Gold price softens
Gold miners Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) could have a subdued finish to the week after the gold price softened. According to CNBC, the spot gold price is down 0.2% to US$1,806.90 an ounce. The gold price snapped its winning streak after the US dollar strengthened.
Goldman remains neutral on Westpac
The team at Goldman Sachs has responded to the Westpac Banking Corp (ASX: WBC) first quarter update by retaining its neutral rating but lifting its price target slightly to $26.24. Goldman commented: “While we remain Neutral on WBC, we do note that management is making progress on a number of its initiatives.”
The post 5 things to watch on the ASX 200 on Friday appeared first on The Motley Fool Australia.
Wondering where you should invest $1,000 right now?
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.
*Returns as of January 12th 2022
More reading
- What can the Westpac results tell us about the outlook for ASX 200 bank shares?
- Here are the top 10 ASX shares today
- Does the Westpac (ASX:WBC) corporate shake-up go far enough?
- Should you buy or sell in a market crash? Here’s what Warren Buffett says
- These 3 ASX 200 shares are topping the volume charts this Thursday
Motley Fool contributor James Mickleboro owns 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 and Westpac Banking Corporation. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
from The Motley Fool Australia https://ift.tt/snily2UDk
Leave a Reply