5 things to watch on the ASX 200 on Thursday

On Wednesday, the S&P/ASX 200 Index (ASX: XJO) ended its losing streak and pushed higher. The benchmark index rose 0.5% to 6,998.1 points.

Will the market be able to build on this on Thursday? Here are five things to watch:

ASX 200 expected to rise

The Australian share market looks set to rise again on Thursday after Wall Street snapped a three-day losing streak. According to the latest SPI futures, the ASX 200 is expected to open the day 31 points or 0.45% higher this morning. On Wall Street, the Dow Jones rose 0.2%, the S&P 500 was up 0.3%, and the NASDAQ pushed 0.4% higher.

Travel results

A couple of ASX 200 travel shares will be handing down their results on Thursday. Travel agent Flight Centre Travel Group Ltd (ASX: FLT) and airline operator Qantas Airways Limited (ASX: QAN) are both scheduled to release their full year results and are expected to report sizeable losses. Consensus estimates are for net losses of $264 million and $1.2 billion, respectively. The market will no doubt be looking for signals that a return to profit is now on the cards.

Oil prices continue to rise

Energy shares including Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have another decent day on Thursday after oil prices rose again on Wednesday night. According to Bloomberg, the WTI crude oil price is up 1.6% to US$95.21 a barrel and the Brent crude oil price is up 1.3% to US$101.54 a barrel. Oil prices lifted amid concerns that the United States will not consider additional concessions to Iran.

Woolworths results

The Woolworths Group Ltd (ASX: WOW) share price will be one to watch on Thursday when the retail giant releases its full year results. According to a note out of Citi, its analysts are expecting a net profit after tax of $1,523 million. The broker is also expecting a stronger outlook than the market is forecasting. It recently said: “We are ~4% above consensus for FY23e sales and ~5% above consensus for EBIT.“

Gold price edges higher

Gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) will be on watch following a mildly positive night for the gold price. According to CNBC, the spot gold price is up 0.2% to US$1,765.1 an ounce. Gold rose ahead of the Jackson Hole symposium.

The post 5 things to watch on the ASX 200 on Thursday appeared first on The Motley Fool Australia.

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More reading

• What boosted the Woodside share price on Wednesday?
• The Qantas factor: Rex shares hold steady despite deepening loss
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• What’s been happening with the Nuix share price of late?
• Which 3 ASX mining shares are soaring more than 15% today?

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. 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 Flight Centre Travel Group Limited. 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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