On Wednesday the S&P/ASX 200 Index (ASX: XJO) bounced back from a poor start to keep its winning streak alive. The benchmark index climbed 0.25% to 5,573 points.
Will the market be able to build on this on Thursday? Here are five things to watch:
ASX 200 expected to rise again
It looks set to be another positive day of trade for the ASX 200 index. According to the latest SPI futures, the benchmark index is expected to open the day 43 points or 0.8% higher. This follows a strong night on Wall Street which saw the Dow Jones jump 1.5%, the S&P 500 rise 1.7%, and the Nasdaq race 2.1% higher.
Tech shares could rise.
Australian tech shares such as Altium Limited (ASX: ALU) and Appen Ltd (ASX: APX) could be on the rise today after their U.S. counterparts stormed higher overnight. Tech giants Facebook and Amazon climbed to record highs and helped drive the technology-focused Nasdaq index 2.1% higher.
Aristocrat Leisure half year update.
The Aristocrat Leisure Limited (ASX: ALL) share price will be on watch when it releases its half year results. According to a note out of Goldman Sachs, it expects the gaming technology company to post a 6% increase in revenue to $2.2 billion and a 2% decline in NPATA to $416 million. The broker believes the company’s Digital segment will offset revenue weakness in the Land based segment. It has forecast Digital revenue growth of 30% to $1,067 million.
Oil prices jump.
It could be a positive day for energy producers such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL). This follows a strong night of trade for oil prices thanks to a surprise drop in U.S. stockpiles. According to Bloomberg, the WTI crude oil price is up 4.9% to US$33.53 a barrel and the Brent crude oil price has risen 3.3% to US$35.78 a barrel.
Gold price pushes higher.
Gold miners such as Newcrest Mining Limited (ASX: NCM) and St Barbara Ltd (ASX: SBM) could push higher today after a solid night of trade for the gold price. According to CNBC, the spot gold price rose 0.3% to US$1,750.50 an ounce. The precious metal was given a boost by stimulus hopes and vaccine doubts.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Altium and Appen Ltd. 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.
The post 5 things to watch on the ASX 200 on Thursday appeared first on Motley Fool Australia.
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