On Wednesday, the S&P/ASX 200 Index (ASX: XJO) had another strong day and charged notably higher again. The benchmark index rose 1.7% to 6,815.7 points.
Will the market be able to build on this on Thursday? Here are five things to watch:
ASX 200 expected to open flat
The Australian share market looks to have run out of steam after two very big sessions. According to the latest SPI futures, the ASX 200 is expected to open the day flat this morning. On a volatile night on Wall Street, in late trade the Dow Jones is up 0.3%, the S&P 500 is up 0.2% and the NASDAQ has pushed 0.1% higher.
Bank of Queensland rated neutral
The Bank of Queensland Ltd (ASX: BOQ) share price will be one to watch today. Ahead of the regional bank’s full year results release next week, Goldman Sachs has reiterated its neutral rating and $8.16 price target on its shares. While only a neutral rating, this price target implies potential upside of approximately 17% for investors.
Oil prices rise after OPEC cut
Energy shares including Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a good day after oil prices pushed higher on Wednesday night. According to Bloomberg, the WTI crude oil price is up 1.5% to US$87.82 a barrel and the Brent crude oil price is up 1.8% to US$93.50 a barrel. This follows news that OPEC is cutting production by 2 million barrels a day to boost prices.
Dividends being paid
A large group of ASX 200 shares will be paying their shareholders their latest dividends today. This includes appliance manufacturer Breville Group Ltd (ASX: BRG), funerals company InvoCare Limited (ASX: IVC), conglomerate Wesfarmers Ltd (ASX: WDS), and energy giant Woodside. The latter is paying its shareholders a 160 cents per share fully franked dividend today.
Gold price falls
Gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a subdued day after the gold price edged lower overnight. According to CNBC, the spot gold price is down 0.25% to US$1,726.40 an ounce. A stronger US dollar weighed on the gold price.
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
- Where is the Woodside share price headed in October?
- Are ASX 200 gold shares worth buying as an inflation hedge?
- Macquarie reveals ASX 200 shares ‘more likely to outperform in a bear market rally’
- Why did the Wesfarmers share price get hammered so hard in September?
- 5 things to watch on the ASX 200 on Wednesday
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 positions in and has recommended Wesfarmers 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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