On Thursday the S&P/ASX 200 Index (ASX: XJO) was out of form and dropped lower again. The benchmark index fell 0.7% to 6,091 points.
Will the market be able to bounce back from this on Friday? Here are five things to watch:
ASX 200 expected to edge lower.
The ASX 200 looks set to edge lower this morning after a disappointing night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is set to edge a single point lower at the open. In the United States the Dow Jones fell 0.3%, the S&P 500 dropped 0.2%, and the Nasdaq index rose 0.3% higher.
Newcrest results.
The Newcrest Mining Limited (ASX: NCM) share price will on watch today when it releases its full year results. Expectations are high for the gold miner after the recent spike in the gold price. According to a note out of Goldman Sachs, it expects Newcrest to post EBITDA of $1,816 million and net profit after tax of $744 million.
Oil prices fall.
Energy producers such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could come under pressure on Friday after oil prices softened. According to Bloomberg, the WTI crude oil price is down 0.75% to US$42.35 a barrel and the Brent crude oil price is down 0.8% to US$45.06 a barrel. Oil prices dropped lower after the IEA lowered its demand forecast.
Mesoblast FDA update.
The Mesoblast limited (ASX: MSB) share price could return from its trading halt later today. It requested the halt on Thursday ahead of its meeting with the Oncologic Drugs Advisory Committee (ODAC) overnight. This meeting is to discuss its remestemcel-L product candidate as a treatment for paediatric steroid-resistance acute graft versus host disease (paediatric SR-aGvHD).
Gold price rebounds.
Gold miners Evolution Mining Ltd (ASX: EVN) and Saracen Mineral Holdings Limited (ASX: SAR) could push higher today after the gold price rebounded. According to CNBC, the spot gold price is up 0.75% to US$1,963.60 an ounce. A weakening U.S. dollar and underwhelming economic data helped lift the price of the precious metal.
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