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.

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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 (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.

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