5 things to watch on the ASX 200 on Friday

On Thursday, the S&P/ASX 200 Index (ASX: XJO) was back on form and pushed higher. The benchmark index rose 0.2% to 6,842.9 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 fall

The Australian share market looks set to end the week in the red. This follows a disappointing night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 38 points or 0.55% lower this morning. In the United States, the Dow Jones was down 0.55%, the S&P 500 dropped 1.1%, and the Nasdaq tumbled 1.4% lower.

Oil prices sink

Energy producers such as Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a difficult finish to the week after oil prices sank overnight. According to Bloomberg, the WTI crude oil price is down 3.7% to US$85.19 a barrel and the Brent crude oil price is down 3.4% to US$90.87 a barrel. There are concerns that large interest rate increases in the US could impact demand.

Aristocrat rated as a buy

The Aristocrat Leisure Limited (ASX: ALL) share price could be heading a lot higher from current levels according to analysts at Goldman Sachs. This morning the broker retained its buy rating and $43.00 price target on the gaming technology company’s shares. Its bullish view is “based on the strong D&D commitment and pipeline support for future growth, well diversified digital business, leverage to the rapidly recovering land-based business as well as strength in their balance sheet.”

Gold price tumbles

Gold miners including Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) could finish to the week deep in the red after the gold price tumbled overnight. According to CNBC, the spot gold price is down 2% to US$1,674.20 an ounce. Higher treasury yields weighed on the yield-less safe haven asset.

Endeavour remains a buy

The Endeavour Group Ltd (ASX: EDV) share price remains in the buy zone according to Goldman Sachs despite regulation changes in Tasmania. The state government has announced plans to introduce a state-wide player card system to provide harm protection to those most at risk of problem gambling. Goldman expects this to be immaterial to Endeavour’s business. As a result, it retains its buy rating and $8.10 price target.

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

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More reading

• Are these ASX growth shares buys after the market selloff?
• Here are the top 10 ASX 200 shares today
• Why Clover, Select Harvests, Whitehaven Coal, and Woodside shares are storming higher
• How this fundie is beating the ASX 300 without fossil fuels
• Why is the Beach Energy share price having such a stellar session?

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 no position in any of the stocks mentioned. 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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