On Thursday, the S&P/ASX 200 Index (ASX: XJO) tumbled deep into the red. The benchmark index fell 1.45% to 6,965.5 points.
Will the market be able to bounce back from this on Friday? Here are five things to watch:
ASX 200 expected to rebound
The Australian share market looks set to end the week on a positive note. According to the latest SPI futures, the ASX 200 is expected to open 15 points or 0.2% higher this morning. In late trade in the United States, the Dow Jones is up 1%, the S&P 500 is up 1.6%, and the NASDAQ index is up 2.3%.
Oil prices recover
Energy producers Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a decent finish to the week after oil prices snapped their losing streak overnight. According to Bloomberg, the WTI crude oil price is up 0.95% to US$68.26 a barrel and the Brent crude oil price is up 1.3% to US$74.61 a barrel. This follows news that Saudi Arabia and Russia met to discuss ways to improve market stability.
Buy Lifestyle Communities shares
The Lifestyle Communities Ltd (ASX: LIC) share price could be great value according to analysts at Goldman Sachs. This morning, the broker reiterated its buy rating with an improved price target of $27.15. It commented: âWe believe this is a highly valuable business modelâ and âthe recent sell off offers a compelling entry level.â
Gold price softens
Gold miners Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) could have a subdued finish to the week after the gold price eased overnight. According to CNBC, the spot gold price is down 0.4% to US$1,923.9 an ounce. Improving investor sentiment put pressure on the safe haven asset.
Dividend payday
A number of ASX 200 shares will be paying their latest dividends on Friday. This includes auto parts retailer Bapcor Ltd (ASX: BAP), fintech company Iress Ltd (ASX: IRE), investment company Pinnacle Investment Management Group Ltd (ASX: PNI), and casino operator SKYCITY Entertainment Group Limited (ASX: SKC).
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
- What’s with the Qantas share price on Thursday?
- Here are the 3 most heavily traded ASX 200 shares on Thursday
- Sayona Mining share price lifts on first saleable lithium production
- ASX 200 trims losses amid employment data and Credit Suisse $80b central bank loan
- ASX 200 oil stocks are tanking. Is now the time to buy?
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 positions in and has recommended Pinnacle Investment Management Group. The Motley Fool Australia has positions in and has recommended Pinnacle Investment Management Group. The Motley Fool Australia has recommended Bapcor. 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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