5 things to watch on the ASX on Friday

Afterpay Touch Group Ltd (ASX:APT), Tabcorp Holdings Limited (ASX:TAH), and Xero Limited (ASX:XRO) shares will be on watch on Friday. Here’s what you need to know…

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On Thursday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) pushed higher for a second day in a row with a 0.3% gain to 6,262.7 points.

Will the market be able to build on this and finish on a high on Friday? Here are five things that could shape today’s trade:

ASX futures pointing lower.

The Australian share market is expected to open the day lower on Friday. According to the latest SPI futures, the market is poised to open 0.2% or 11 points lower following a disappointing night of trade on Wall Street. The Dow Jones fell 0.5%, the S&P 500 dropped 0.4%, and the Nasdaq tumbled 0.4%.

Afterpay Touch shares on watch.

The Afterpay Touch Group Ltd (ASX: APT) share price will be on watch on Friday after its 24% gain on Thursday. The fintech company’s shares surged higher following the release of an impressive business update. The market will no doubt be waiting to see what brokers have to say on its performance this morning.

Tabcorp to exit Sun Bets.

The Tabcorp Holdings Limited (ASX: TAH) share price could come under pressure on Friday after it announced an agreement to exit its UK online wagering and gaming business Sun Bets. According to the release, Sun Bets will cease trading in the coming days and Tabcorp will make a payment to News UK of £39.5 million (approximately A$71 million) to exit the agreement.

Miners could drag the market lower.

The US-listed shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) closed 2.7% and 2.4% lower, respectively, overnight after base metal prices came under pressure. The copper price dropped to a one-year low and is now approaching bear market territory.

Xero’s strategic alliance in the United States.

The Xero Limited (ASX: XRO) share price could be on the rise today after the accounting software provider announced a strategic alliance with leading full-service US payroll platform Gusto. The deal will integrate Xero’s platform in the US with Gusto to provide customers access to full-service payroll in all 50 States.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of AFTERPAY T FPO and Xero. 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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