MENU

5 things to watch on the ASX on Thursday

On Wednesday the S&P/ASX 200 (Index: ^AXJO) finished lower once again with a 0.25% decline to 5,829 points.

Will the market be able to bounce back on Thursday? Here are five things to watch:

ASX futures pointing lower.

It looks like the local market could be spending yet another day in the red. According to the latest SPI futures, the market is expected to open the day 92 points or 1.6% lower on Thursday after a horrific night of trade on Wall Street. The Dow Jones fell 2.4%, the S&P 500 tumbled 3.1%, and the Nasdaq sank 4.4%.

Tech selloff to continue.

Leading tech shares such as Altium Limited (ASX: ALU) and WiseTech Global Ltd (ASX: WTC) look likely to drop notably lower again after their U.S. counterparts were sold off overnight. Facebook, Amazon, Netflix, and Google all fell heavily. Their shares were down 5.4%, 5.9%, 4.8%, and 9.4% respectively.

JB Hi-Fi annual general meeting.

Later today JB Hi-Fi Limited (ASX: JBH) will hold its annual general meeting and provide an update on its performance so far in FY 2019. The retailer’s shares fell heavily on Wednesday, possibly indicating that some investors are expecting a weak update today.

Blackmores meeting.

As well as JB Hi-Fi, health supplements company Blackmores Limited (ASX: BKL) is holding its annual general meeting. Shareholders will be hopeful that its trading update isn’t as disappointing as the one out of infant formula company Bellamy’s Australia Ltd (ASX: BAL) on Wednesday.

Oil prices slide.

Energy shares such as Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could be set for another day in the red on Thursday after oil prices continued their decline. According to Bloomberg, the WTI crude oil price fell a further 0.3% to US$66.25 a barrel and the Brent crude oil price dropped 1.2% to US$75.50 a barrel. Prices have come under pressure after Saudi Arabia pledged to pump out as much oil as possible.

Motley Fool Australia Issues Rare "Double Down" Buy Alert

Scott Phillips has stumbled upon a little-owned stock he believes could be one of the greatest discoveries of his 25 years as a professional investor.

 

This is your chance to get in early on of what could prove to be a very special investment recommendation. Think about how many investing trends you've missed out on, even though you knew they were going to be big. Don't let that happen again. This is your chance to get in early.

Simply click here to get started and access our secure sign-up page.

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 (C shares), Amazon, Facebook, and Netflix. The Motley Fool Australia owns shares of and has recommended Blackmores Limited. The Motley Fool Australia owns shares of Altium and WiseTech Global. The Motley Fool Australia has recommended Amazon, Facebook, and Netflix. 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.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.