On Thursday the S&P/ASX 200 Index (ASX: XJO) ended its winning streak with a disappointing decline. The benchmark index fell 0.7% to 6,120 points.
Will the market be able to bounce back from this on Friday? Here are five things to watch:
ASX 200 expected to push higher.
It looks set to be a positive end to the week for the benchmark ASX 200. According to the latest SPI futures, the benchmark index is poised to open the day 12 points or 0.20% higher this morning. This follows a strong night of trade on Wall Street which saw the Dow Jones rise 0.3%, the S&P 500 climb 0.3%, and the Nasdaq storm 1.1% higher.
TPG half year results.
The TPG Telecom Ltd (ASX: TPG) share price will be on watch today when it hands in its half year results. According to a note out of Goldman Sachs, it is forecasting first half EBITDA to decline -7% to $897 million. This is largely due to weakness in the consumer business. The broker is also looking out for commentary on COVID-19 impacts and mobile pricing.
Oil prices tumble.
It could be a difficult day for energy producers including Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) after oversupply concerns weighed on oil prices. According to Bloomberg, the WTI crude oil price is down 0.7% to US$42.62 a barrel and the Brent crude oil price is down 1% to US$44.90 a barrel.
Suncorp FY 2020 results.
The Suncorp Group Ltd (ASX: SUN) share price will be in focus today when the insurance and banking giant releases its full year results. According to CommSec, the market is expecting Suncorp to deliver a full year net profit after tax of $696.75 million. Investors may also want to keep an eye out for commentary around COVID-19 impacts on loans and insurance claims.
Gold price steadies.
Gold miners Evolution Mining Ltd (ASX: EVN) and Newcrest Mining Limited (ASX: NCM) will be on watch after a mixed night of trade for the gold price. According to CNBC, the spot gold price is fetching US$1,955.20 an ounce. This is up slightly from 24 hours ago, but down sharply over the last few days.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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