On Wednesday, the S&P/ASX 200 Index (ASX: XJO) was well and truly out of form and sank deep into the red. The benchmark index fell 1.05% to 7,352.2 points.

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

ASX 200 expected to rebound

The Australian share market is expected to rebound on Thursday following a relatively positive night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 27 points or 0.4% higher this morning. In late trade in the United States, the Dow Jones is down 0.1%, the S&P 500 has risen 0.1% and the NASDAQ has pushed 0.75% higher.

Telstra half-year results

The Telstra Group Ltd (ASX: TLS) share price will be on watch when the telco giant releases its half year results. According to a note out of Goldman Sachs, it is tipping Telstra to positively surprise with its results. It said: “We expect TLS to deliver a solid result (GSe +2% vs. 1H23 VA Consensus EBITDA), with top line momentum more than offsetting the higher costs.” This will mean EBITDA of $3.9 billion compared to the consensus estimate of $3.82 billion. Goldman also expects an 8.5 cents per share interim dividend.

Oil prices edge higher

ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a decent session after oil prices rose on Wednesday night. According to Bloomberg, the WTI crude oil price is up 0.1% to US$79.10 a barrel and the Brent crude oil price is up 0.3% to US$85.80 a barrel. A positive demand outlook offset news of a build-up of US inventories.

NAB Q1 update

The National Australia Bank Ltd (ASX: NAB) share price will be hoping for a better session on Thursday after falling 4% yesterday. The banking giant is releasing its first quarter update today and investors will no doubt be looking for signs that its net interest margin has not peaked as many now fear after the Commonwealth Bank of Australia (ASX: CBA) results.

Gold price falls to one-month low

ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a poor session after the gold price dropped overnight. According to CNBC, the spot gold price is down 0.95% to US$1,847.8 an ounce. The precious metal has hit a one-month low after the US dollar strengthened.

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

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Will ASX 200 shares crash in 2023?
• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• Should I buy Endeavour shares following the ASX 200 company’s stellar results?
• ASX 200 in freefall as CBA’s prediction of a soft landing might have just been torpedoed by huge interest rate call
• Why CBA, Corporate Travel Management, Treasury Wine, and Westpac shares are dropping

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 Telstra Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/veo31jt

• Stock Market