On Wednesday the S&P/ASX 200 Index (ASX: XJO) ran out of steam and dropped into the red. The benchmark index fell 0.3% to 7,565.8 points.
Will the market be able to bounce back from this on Thursday? Here are five things to watch:
ASX 200 expected to edge lower
The Australian share market looks set to edge lower on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 5 points or 0.1% lower this morning. This follows a poor night on Wall Street, which in late trade sees the Dow Jones down 0.25%, the S&P 500 down 0.85%, and the Nasdaq down a sizeable 2%.
Oil prices rise again
Energy shares including Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could have a good day after oil prices pushed higher again overnight. According to Bloomberg, the WTI crude oil price is up 0.95% to US$77.71 a barrel and the Brent crude oil price is up 0.85% to US$80.68 a barrel. This was despite US fuel demand slipping and OPEC lifting its output.
Tech shares on watch
Afterpay Ltd (ASX: APT) and TechnologyOne Ltd (ASX: TNE) shares could have another difficult day of trade after US tech shares were sold off again. At the time of writing, the tech-focused Nasdaq index is down 2% in late trade. As the local tech sector tends to follow its lead, this doesn’t bode well for today’s session.
Gold price edges higher
Gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a decent day after the gold price edged higher. According to CNBC, the spot gold price is up 0.1% to US$1,816.70 an ounce. Rising Omicron variant cases helped boost its safe-haven appeal with investors.
Aristocrat acquisition update
The Aristocrat Leisure Limited (ASX: ALL) share price will be on watch on Thursday following an update on its proposed acquisition of Playtech. The gaming technology company advised that the Playtech shareholder vote on the acquisition has been pushed back from 12 January to 2 February. This is to allow time for rival JKO Play to make a firm competing offer. One positive, though, is that proxy advisers continue to recommend Aristocrat’s offer.
The post 5 things to watch on the ASX 200 on Thursday appeared first on The Motley Fool Australia.
Wondering where you should invest $1,000 right now?
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.
*Returns as of August 16th 2021
More reading
- Here are the top 10 ASX shares today
- What are some key lessons for ASX share investors at the end of 2021?
- Why Anteotech, Brainchip, RAIZ, and Santos shares are pushing higher
- These 3 ASX 200 shares are topping the volume charts on Wednesday
- Why Afterpay, Kogan, Premier Investments, and Pro Medicus shares are dropping
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. owns and has recommended Afterpay Limited. The Motley Fool Australia owns and has recommended Afterpay Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
from The Motley Fool Australia https://ift.tt/3sYHfSC
Leave a Reply