On Thursday, the S&P/ASX 200 Index (ASX: XJO) managed to keep its winning streak alive with the smallest of gains. The benchmark index rose a modest 1.8 points to 6,817.5 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 after Wall Street tumbled overnight. According to the latest SPI futures, the ASX 200 is expected to open 55 points or 0.8% lower this morning. In late trade in the United States, the Dow Jones is down 0.9%, the S&P 500 has dropped 0.7%, and the Nasdaq has fallen 0.35%.
Oil prices rise again
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 pushed higher again overnight. According to Bloomberg, the WTI crude oil price is up 1% to US$88.61 a barrel and the Brent crude oil price is up 1.3% to US$94.57 a barrel. OPEC’s production cuts have boosted prices to three-week highs.
Dividends being paid
Today is payday for a number of dividend-paying ASX 200 shares. This includes insurance broker AUB Group Ltd (ASX: AUB), waste management company Cleanaway Waste Management Ltd (ASX: CWY), property company Home Consortium Ltd (ASX: HMC), telco Spark New Zealand Ltd (ASX: SPK), and logistic solutions technology company WiseTech Global Ltd (ASX: WTC).
Gold price edges higher
Gold miners including Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) will be on watch after the gold price edged higher overnight. According to CNBC, the spot gold price is up 0.05% to US$1,721.70 an ounce. The precious metal appears to be running out of steam after some strong gains recently.
TechnologyOne rated neutral
The team at Goldman Sachs has retained its neutral rating on TechnologyOne Ltd (ASX: TNE) shares with a $13.15 price target. This follows the company’s Showcase event this week, which highlighted its cloud-native future and new fee model. Goldman commented: “The company did not elaborate on the pricing of its SaaS+ model, except to say that it will be greater than the current typical annual SaaS fee and will index with CPI.”
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
- Here are the top 10 ASX 200 shares today
- Experts tip when inflation will peak, and it could be soon
- Could the Coles share price be in for a better month in October?
- Could the RBA’s latest interest rate decision signal a turning point for ASX 200 shares?
- Why are ASX 200 energy shares smashing the benchmark 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 Austbrokers Holdings 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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