5 things to watch on the ASX 200 on Friday

On Thursday, the S&P/ASX 200 Index (ASX: XJO) returned to form and charged notably higher. The benchmark index rose 1.8% to 6,845.6 points.

Will the market be able to build on this on Friday and end the week on a high? Here are five things to watch:

ASX 200 expected to storm higher

The Australian share market looks set to end the week with a very strong gain. This follows another solid night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open a massive 121 points or 1.8% higher this morning. In the United States, the Dow Jones was up 0.6%, the S&P 500 climbed 0.65%, and the Nasdaq pushed 0.6% higher.

Oil prices rebound

Energy producers such as Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a decent finish to the week after oil prices rebounded overnight. According to Bloomberg, the WTI crude oil price is up 1% to US$82.75 a barrel and the Brent crude oil price is up 0.6% to US$88.53 a barrel. Oil prices rebounded after almost hitting an 8-month low.

A2 Milk rated as a sell

The A2 Milk Company Ltd (ASX: A2M) share price is fully valued after its recent run according to analysts at Goldman Sachs. This morning the broker initiated coverage on the infant formula company with a sell rating and $5.80 price target. Goldman said: “Despite solid operational execution in 2H22, we believe this result will be challenging to replicate in FY23.”

Gold price falls

Gold miners including Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) could have a subdued finish to the week after the gold price dropped overnight. According to CNBC, the spot gold price is down 0.5% to US$1,718.70 an ounce. US Federal Reserve comments about taming inflation weighed on the safe haven asset.

Shares going ex-dividend

Another group of shares will be going ex-dividend on Friday. This includes media company Nine Entertainment Co Holdings Ltd (ASX: NEC) for its 7 cents per share dividend and logistics solution technology company WiseTech Global Ltd (ASX: WTC) for its 6.4 cents per share dividend. Elsewhere, today is payday for JB Hi-Fi Limited (ASX: JBH) shareholders.

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

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Why has the A2 Milk share price leapt 17% in a fortnight?
• Do ASX 200 gold shares pay regular dividends?
• Here’s why ASX 200 energy shares are diving lower today
• Why is the Beach Energy share price sinking on Thursday?
• Why are ASX 200 tech shares having such a top run on Thursday?

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 WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. The Motley Fool Australia has recommended A2 Milk and JB Hi-Fi Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/FAsYCv7