5 things to watch on the ASX 200 on Thursday

On Wednesday, the S&P/ASX 200 Index (ASX: XJO) followed the lead of US markets and tumbled lower. The benchmark index fell 0.5% to 6,992.7 points.

Will the market be able to bounce back from this on Thursday? Here are five things to watch:

ASX 200 expected to rebound

The Australian share market looks set to rebound strongly on Thursday following a stellar night on Wall Street after better than expected US inflation data. According to the latest SPI futures, the ASX 200 is expected to open the day 74 points or 1.1% higher this morning. On Wall Street, the Dow Jones was up 1.6%, the S&P 500 rose 2.1%, and the NASDAQ stormed 2.9% higher. The latter bodes well for the tech sector today.

Telstra full year results

The Telstra Corporation Ltd (ASX: TLS) share price will be one to watch on Thursday. This morning the telco giant is scheduled to release its full year results. According to a note out of Goldman Sachs, it expects Telstra to report a 6% decline in revenue to $21.6 billion but a 7% increase in underlying EBITDA to $7.13 billion. A final dividend of 8 cents per share is expected, bringing its full year dividend to 16 cents per share.

Oil prices rise

Energy shares including Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a good day after oil prices pushed higher on Wednesday night. According to Bloomberg, the WTI crude oil price is up 1.5% to US$91.92 a barrel and the Brent crude oil price is up 1.3% to US$97.38 a barrel. Optimism over gasoline demand boosted prices.

Goodman results

The Goodman Group (ASX: GMG) share price will be in focus today. This morning the integrated industrial property company will release its full year results. Goodman has been having a fantastic year and has upgraded its guidance a number of times. Its most recent guidance is for earnings per share growth of 23%. The team at Citi suspect that Goodman could even outperform this guidance.

Gold price falls

Gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a subdued day after the gold price dropped overnight. According to CNBC, the spot gold price is down 0.35% to US$1,805.2 an ounce. Improving investor sentiment reduced the appeal of the safe haven asset.

The post 5 things to watch on the ASX 200 on Thursday appeared first on The Motley Fool Australia.

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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 no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Telstra Corporation Limited. 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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