5 things to watch on the ASX 200 on Friday

On Thursday, the S&P/ASX 200 Index (ASX: XJO) was on form again and charged higher. The benchmark index rose 0.5% to 6,845.1 points.

Will the market be able to build on this on Friday and end the week on a high? Here are five things to watch:

ASX 200 expected to fall

The Australian share market looks set to end the week in the red after a mixed night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 15 points or 0.2% lower this morning. In late trade in the United States, the Dow Jones is up 0.9%, the S&P 500 has fallen 0.4%, and the Nasdaq has dropped 1.4%.

Oil prices rise

Energy shares such as Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a good finish to the week after oil prices pushed higher overnight. According to Bloomberg, the WTI crude oil price is up 0.9% to US$88.70 a barrel and the Brent crude oil price is up 1% to US$96.65 a barrel. Strong demand for oil has given prices a lift.

Macquarie half-year result

The Macquarie Group Ltd (ASX: MQG) share price will be in focus today when the investment bank releases its half year results. According to a note out of Goldman Sachs, its analysts expect Macquarie to report a cash net profit after tax of $2,183 million. This is a touch higher than the market consensus estimate of $2,157 million.

ANZ rated neutral

The Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price may be close to peaking according to Goldman Sachs. This morning the broker has responded to the bank’s full year results release by retaining its neutral rating with a $26.25 price target. It said: “Today’s result suggested that while ANZ’s NIM is likely to peak at higher levels than we previously forecast, this peak is also likely to come through earlier.”

Gold price falls

Gold shares including Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) could have a poor end to the week after the gold price dropped overnight. According to CNBC, the spot gold price is down 0.35% to US$1,663.40 an ounce. The precious metal dropped after US dollar climbed ahead of the US Fed meeting next week.

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

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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 Macquarie 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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