5 things to watch on the ASX 200 on Friday

Smiling man with phone in wheelchair watching stocks and trends on computer

Smiling man with phone in wheelchair watching stocks and trends on computer

On Thursday, the S&P/ASX 200 Index (ASX: XJO) recovered from its lows but just fell short of positive territory. The benchmark index was down 4.3 points to 7,193.1 points.

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

ASX 200 expected to fall again

The Australian share market looks set to end the week in the red following another poor night of trade 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 the United States, the Dow Jones was down 0.9%, the S&P 500 fell 0.7%, and the NASDAQ dropped 0.5%.

ANZ half-year results

The ANZ Group Holdings Ltd (ASX: ANZ) share price will be one to watch today when the banking giant releases its half-year results. According to a note out of Goldman Sachs, its analysts are expecting the bank to report cash earnings growth of 27.8% to $3,978 million. This is ahead of the consensus estimate of $3,769 million. An interim dividend of 80 cents per share is expected. Macquarie Group Ltd (ASX: MQG) is also releasing its results today.

Oil prices mixed

ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a subdued finish to the week after a mixed night of trade for oil prices. According to Bloomberg, the WTI crude oil price is down 0.2% to US$68.46 a barrel and the Brent crude oil price is flat at US$72.33 a barrel. Demand concerns continue to weigh on sentiment.

Gold price rises

Gold shares Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) could have a decent finish to the week after the gold price charged higher overnight. According to CNBC, the spot gold price is up 1% to US$2,056.7 an ounce. Concerns over the US banking sector has lifted the safe haven asset to within sight of a record high.

NAB shares remain a buy

Analysts at Goldman Sachs have retained their buy rating on National Australia Bank Ltd (ASX: NAB) shares despite being disappointed with its half-year results. Goldman has a buy rating and trimmed price target of $30.69 on its shares. This implies potential upside of almost 15% for investors over the next 12 months.

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 Macquarie 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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