On Thursday, the S&P/ASX 200 Index (ASX: XJO) was out of form and tumbled lower. The benchmark index fell 0.7% to 7,105.9 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 jump
The Australian share market looks set to end the week on a positive note following a solid night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 69 points or 1% lower this morning. In the US, the Dow Jones was up 1.6%, the S&P 500 rose 2%, and the Nasdaq stormed 2.7%.
Appen takeover offer withdrawn
The Appen Ltd (ASX: APX) share price could come crashing back down to earth on Friday after Telus International withdrew its takeover approach just hours after it was made public without comment. In addition, the artificial intelligence data services company released a particularly poor trading update when revealing the takeover proposal. Now, all the focus will be on that.
Oil prices storm higher
Energy producers including Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a very positive finish to the week after oil prices stormed higher. According to Bloomberg, the WTI crude oil price is up 3.2% to US$113.85 a barrel and the Brent crude oil price is up 2.75% to US$117.16 a barrel.
Gold price edges higher
Gold miners Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) could have a decent finish to the week after the gold price edged higher overnight. According to CNBC, the spot gold price is up 0.15% to US$1,849.3 an ounce. The gold price rose despite the US Fed’s aggressive policy stance.
Westpac rated neutral
According to a note out of Goldman Sachs, its analysts have held firm with their neutral rating on Westpac Banking Corp (ASX: WBC) shares. Though, with a price target of $27.29, this implies material upside for investors. In response to the bank’s super fund merger and asset management sale, Goldman said: “We view these transactions as entirely consistent with WBC’s strategy of simplifying the overall group.”
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 top 10 ASX shares today
- Action aplenty: Here’s why the Appen share price has now been halted
- How do ASX shares typically perform following a demerger?
- Why is the Zip share price beating the ASX 200 today?
- Will the CA$8.1 billion Telus International up its bid for ASX-listed Appen?
Motley Fool contributor James Mickleboro has positions in Westpac Banking Corporation. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Appen Ltd. The Motley Fool Australia has recommended Westpac Banking Corporation. 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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