5 things to watch on the ASX 200 on Thursday

On Wednesday, the S&P/ASX 200 Index (ASX: XJO) continued its winning streak and pushed higher again. The benchmark index rose 0.3% to 7,127.7 points.

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

ASX 200 expected to fall

The Australian share market looks set to snap its winning streak on Thursday after a poor night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 15 points or 0.2% lower this morning. On Wall Street, the Dow Jones fell 0.5%, the S&P 500 dropped 0.7%, and the NASDAQ tumbled 1.25% lower. Overnight, the US Fed minutes revealed that interest rate hikes are likely to continue until inflation eases substantially.

Treasury Wine full year results

The Treasury Wine Estates Ltd (ASX: TWE) share price will be one to watch on Thursday. This morning the wine giant is scheduled to release its full year results for FY 2022. According to a note out of Citi, it expects the company to deliver a net profit after tax of $314.2 million. This is broadly in line with the market consensus estimate.

Oil prices rebound

Energy shares including Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a better day on Thursday after oil prices rebounded on Wednesday night. According to Bloomberg, the WTI crude oil price is up 1.4% to US$87.72 a barrel and the Brent crude oil price is up 1% to US$93.30 a barrel. Traders were buying oil after US crude stockpiles fell.

Pro Medicus results

The Pro Medicus Limited (ASX: PME) share price will be on watch when the health imaging company releases its full year results. According to a note out of Bell Potter, its analysts are expecting revenue of $92 million, EBITDA of $65.7 million, and a net profit after tax of $44.9 million. The latter represents a 48% increase year over year.

Gold price falls

Gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a difficult day after the gold price dropped overnight. According to CNBC, the spot gold price is down 0.6% to US$1,779.30 an ounce. Gold dropped for a third consecutive session following the release of minutes from the US Federal Reserve’s meeting.

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 positions in and has recommended Pro Medicus Ltd. The Motley Fool Australia has positions in and has recommended Pro Medicus Ltd. The Motley Fool Australia has recommended Treasury Wine Estates 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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