5 things to watch on the ASX 200 on Friday

On Thursday, the S&P/ASX 200 Index (ASX: XJO) was on form again and pushed higher. The benchmark index rose 0.3% to 7,639.2 points.

Will the market be able to build on this on Friday and end the week on a high? Here are five things to watch:

ASX 200 expected to edge lower

The Australian share market looks set to end the week in a subdued fashion following a mixed night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 8 points or 0.1% lower this morning. In late trade on Wall Street, the Dow Jones is down 0.1%, the S&P 500 is down 0.1%, and the NASDAQ is up 0.1%.

Oil prices surge

ASX 200 energy shares including Beach Energy Ltd (ASX: BPT) and Karoon Energy Ltd (ASX: KAR) could have a great finish to the week after oil prices surged overnight. According to Bloomberg, the WTI crude oil price is up 3% to US$76.12 a barrel and the Brent crude oil price is up 3% to US$81.55 a barrel. Traders were buying oil after Israel rejected Hamas’ cease-fire proposal.

Megaport results

The Megaport Ltd (ASX: MP1) share price will be on watch today when the elasticity connectivity and network services interconnection provider releases its half year results. The company has already pre-released its results, reporting a 35% increase in revenue to $95 million and EBITDA of $30 million. All eyes will be on its guidance, which was unchanged despite the stronger than expected half.

Gold price edges lower

ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a soft session after the gold price edged lower overnight. According to CNBC, the spot gold price is down 0.2% to US$2,048.3 an ounce. A stronger US dollar weighed on the precious metal.

REA remains a buy

REA Group Ltd (ASX: REA) shares are a buy according to analysts at Goldman Sachs. In response to the release of its half year results, the broker has retained its buy rating with a trimmed price target of $201.00. It said: “Revenue outlook very positive; pay-back on increased investment the key unknown.”

The post 5 things to watch on the ASX 200 on Friday 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

• 2 picks I’d buy for my ASX share portfolio in February
• Here are the top 10 ASX 200 shares today
• 2 ASX 200 shares making big moves on strong earnings
• Guess which ASX 200 stock is leading the share price gains in 2024?
• Why Alliance Aviation, Platinum, REA, and Santos shares are dropping today

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 Goldman Sachs Group, Megaport, and REA Group. The Motley Fool Australia has recommended Megaport and REA 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/CAFSEHx