On Thursday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) bounced back from a selloff in the morning to finish the day just marginally lower at 6,328.3 points.
Will the local market be able to finish on a high on Friday? Here are five things to watch:
ASX expected to open lower.
According to the latest SPI futures, the Australian share market is expected to open the day 2 points lower on Friday. This is despite strong gains being made on Wall Street overnight after the U.S. and China agreed to resume trade talks. The Dow Jones climbed a massive 1.6%, the S&P 500 rose 0.8%, and the Nasdaq pushed 0.4% higher. This was the biggest jump since April for the Dow Jones index.
Miners set to rebound.
Resources shares such as BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) acted as a major drag on the market on Thursday but could bounce back today. According to Metal Bulletin, base metal prices on the London Metal Exchange were higher across the board at the close of trade, with lead prices topping broad complex gains following sharp upticks in copper, zinc and nickel prices.
Kogan.com Ltd (ASX: KGN) shares will be on watch today when the e-commerce company releases its full-year results. Its shares have risen over 21% in the space of a week during the run up to the release. All eyes will be on its margins and how trading has started in FY 2019.
Other results due out.
As well as Kogan, property group Goodman Group (ASX: GMG), administration services provider Link Administration Holdings Ltd (ASX: LNK), and financial company MyState Limited (ASX: MYS) are pencilled in to release their respective results this morning. Link Administration is tipped to post a net profit after tax of $139.4 million.
Oil prices bounce back.
According to Bloomberg, the WTI crude oil price rebounded over 0.7% higher to US$65.49 a barrel overnight and the Brent crude oil price rose a solid 0.9% to US$71.41 a barrel. This could be good news for Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) shares which sank notably lower on Thursday after oil prices collapsed.
You might not know this market leader's name, but it's rapidly expanding into a highly profitable niche market here in Australia. Even better, the shares boast a strong, fully franked dividend that should balloon in the years to come. In other words, we're looking at the holy grail of incredible long-term growth potential AND income you can watch accruing in your account in real time!
Simply click here to grab your FREE copy of this up-to-the-minute research report on our #1 dividend share recommendation now.
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of MyState Limited. The Motley Fool Australia has recommended Kogan.com ltd. 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.