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5 things to watch on the ASX on Friday

On Thursday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) had a stunning day and shrugged off global trade war fears to climb 0.85% to 6,268.3 points.

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

ASX futures pointing higher.

According to the latest SPI futures, the Australian share market is expected to have a solid finish to the week. Futures are pointing to the market opening 0.4% or 24 points higher on Friday following a positive night of trade on Wall Street. The Dow Jones Industrial Average rose 0.9%, the S&P 500 climbed almost 0.9%, and the Nasdaq stormed 1.4% higher.

Nasdaq storms to a new high.

Australian tech shares such as Altium Limited (ASX: ALU) and Appen Ltd (ASX: APX) could be set to finish the week on a high after U.S. tech shares surged higher overnight. Facebook, Amazon, Apple, and Alphabet made strong gains, ensuring that the Nasdaq closed the day at a new record high.

A2 Milk rated as a buy.

Yesterday the A2 Milk Company Ltd (ASX: A2M) share price tumbled lower after the infant formula and dairy company provided its full-year guidance and outlook for FY 2019. Goldman Sachs has responded to the news by retaining its buy rating but reducing its price target slightly to $12.20.

Integrated Research guidance.

The Integrated Research Limited (ASX: IRI) share price will be on watch on Friday after the global provider of experience management solutions released reasonably weak full-year guidance after the market closed. According to the release, the company expects revenue to be flat and profit after tax growth to be up between 1% and 5% compared to the previous year.

Oil prices mixed.

Oil prices were mixed overnight after yesterday’s heavy declines. According to Bloomberg, the WTI crude oil price edged slightly lower to US$70.35 a barrel and the Brent crude oil price rebounded strongly and pushed 1.4% higher to US$74.45 a barrel.

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John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and recommends Alphabet (A shares), Amazon, Apple, and Facebook. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool Australia owns shares of A2 Milk, Altium, and Appen Ltd. The Motley Fool Australia has recommended Alphabet (A shares), Amazon, Apple, Facebook, and Integrated Research Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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