5 things to watch on the ASX 200 on Thursday

On Wednesday, the S&P/ASX 200 Index (ASX: XJO) fought hard and managed to keep its winning streak alive. The benchmark index rose a fraction to 7,519.2 points.

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

ASX 200 expected to rise again

The Australian share market looks set to rise again on Thursday following a good night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 27 points or 0.35% higher this morning. In late trade on Wall Street, the Dow Jones is up 0.1%, the S&P 500 has risen 0.4%, and the Nasdaq is 0.7% higher.

Oil prices climb

ASX 200 energy shares including Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) will be on watch after a positive night for oil prices. According to Bloomberg, the WTI crude oil price is up 0.8% to US$74.99 a barrel and the Brent crude oil price is up 0.5% to US$79.92 a barrel. This was driven by news of a winter storm hitting production in the United States.

ResMed update

ResMed Inc (ASX: RMD) shares will be on watch on Thursday when the sleep treatment company releases its second quarter update. According to a note out of Citi, it is expecting ResMed to deliver a result comfortably ahead of consensus estimates. It has pencilled in earnings per share of US$1.92 for the quarter.

Gold price falls

ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a poor day of trade after the gold price fell overnight. According to CNBC, the spot gold price is down 0.5% to US$2,015.1 an ounce. Strong economic data in the United States has led to rate cut doubts. Traders believe the US Fed won’t be in a rush to reduce rates if the economy is booming.

Domino’s shares on watch

The Domino’s Pizza Enterprises Ltd (ASX: DMP) share price will be one to watch today after the pizza chain operator released a trading update after the market close on Wednesday. Domino’s revealed that its same store sales and total sales were up 1.3% and 8,8%, respectively, during the first half. And while its net profit before tax is expected to fall year on year to $87 million to $90 million (from $104.8 million), this will be ahead of the $74.4 million recorded during the second half of FY 2023.

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

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More reading

• Here are the top 10 ASX 200 shares today
• Northern Star share price leaps higher on boosted earnings
• Why Karoon Energy, Kogan, Northern Star, and Pilbara Minerals shares are jumping today
• Woodside share price hesitant on $3.36 billion quarter
• 5 things to watch on the ASX 200 on Wednesday

Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor James Mickleboro has positions in Domino’s Pizza Enterprises, ResMed, and Woodside Energy Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Domino’s Pizza Enterprises and ResMed. The Motley Fool Australia has positions in and has recommended ResMed. The Motley Fool Australia has recommended Domino’s Pizza Enterprises. 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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