5 things to watch on the ASX 200 on Friday

A happy male investor turns around on his chair to look at a friend while a laptop runs on his desk showing share price movements

A happy male investor turns around on his chair to look at a friend while a laptop runs on his desk showing share price movements

On Thursday, the S&P/ASX 200 Index (ASX: XJO) was out of form again and dropped into the red. The benchmark index was down 0.3% to 7,292.7 points.

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

ASX 200 expected to jump

The Australian share market looks set to end the week in a positive fashion following a stunning night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 55 points or 0.75% higher this morning. In the United States, the Dow Jones was up 1.6%, the S&P 500 rose 2%, and the NASDAQ jumped 2.4%. The S&P 500 index had its best session since January.

Oil prices rebound

ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a decent finish to the week after oil prices rebounded overnight. According to Bloomberg, the WTI crude oil price is up 0.65% to US$74.78 a barrel and the Brent crude oil price is up 0.85% to US$78.35 a barrel. Traders appear to believe that oil has been oversold following recent weakness.

Pilbara Minerals quarterly update

The Pilbara Minerals Ltd (ASX: PLS) share price will be one to watch today after the lithium miner released its quarterly update after the market close yesterday. Pilbara Minerals had a tough quarter, reporting lower than expected shipments and lithium prices, as well as higher than forecast costs.

Gold price edges higher

Gold shares Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) could have a subdued finish to the week after the gold price edged ever so slightly higher overnight. According to CNBC, the spot gold price is up 0.05% to US$1,997 an ounce. A stronger US dollar held back the gold price.

Coles quarterly

The Coles Group Ltd (ASX: COL) share price will be in focus today when the supermarket operator releases its third-quarter update. Another solid quarter is expected from the retailer, with UBS forecasting a 7.5% increase in sales to $9.8 billion. This would be ahead of the consensus estimate of $9.6 billion. UBS expects this to be underpinned by a 7.9% increase in total supermarket sales on inflation and modest volume growth. The broker expects supermarket same store sales growth of 7.8%.

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 positions in and has recommended Coles Group. 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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