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5 things to watch on the ASX on Thursday

On Wednesday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) fought back from an early decline to finish the day 0.5% higher at 6,329 points.

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

ASX futures pointing lower.

The Australian share market is expected to open the day significantly lower on Thursday. According to the latest SPI futures, the market is poised to open over 0.8% or 53 points lower following heavy declines in Europe and on Wall Street. In respect to the latter, the Dow Jones fell 0.5%, the S&P 500 dropped 0.8%, and the Nasdaq tumbled 1.2%.

BHP and Rio Tinto could drag on the market.

The shares of mining giants BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) could drop notably lower today after commodity prices fell heavily overnight. The UK-listed shares of BHP and Rio Tinto fell over 2.5% and 3.3%, respectively, in London last night.

Oil prices have sunk lower.

Australia’s leading energy producers including Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) are likely to come under pressure today after oil prices sunk lower. According to Bloomberg, the WTI crude oil price fell 3.2% to US$64.90 a barrel and the Brent crude oil price tumbled 2.4% to US$70.75 a barrel.

Telstra results release.

All eyes will be on the Telstra Corporation Ltd (ASX: TLS) dividend today when it releases its full-year results. The market appears to be expecting the telco giant to announce a cut to its dividend when it releases its guidance for FY 2019.

Earnings results.

As well as Telstra, results scheduled for release today include Australian share market operator ASX Ltd (ASX: ASX), funeral company InvoCare Limited (ASX: IVC), insurance giant QBE Insurance Group Ltd (ASX: QBE), and wine company Treasury Wine Estates Ltd (ASX: TWE).

Finally, here are four more buy rated shares to watch this month.

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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 and has recommended Telstra Limited. The Motley Fool Australia owns shares of ASX Limited. The Motley Fool Australia has recommended InvoCare Limited and Treasury Wine Estates 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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