On Thursday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) made it three consecutive days of gains when it rose 0.15% to 5,661.6 points.
Will the ASX 200 be able to build on this on Friday and finish the week on a high? Here are five things to watch:
ASX futures pointing lower.
According to the latest SPI futures, the ASX 200 is expected to open the day 0.1% or 4 points lower on Friday. This follows a mixed night of trade on Wall Street which late in the session sees the Dow Jones up 0.3%, the S&P 500 flat, and the Nasdaq 0.4% lower. Trade war concerns have weighed on the market once again.
Oil prices surge higher.
It looks set to be a positive day of trade for Australian energy producers such as Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) after oil prices surged higher overnight. According to Bloomberg, the WTI crude oil price rose 3.9% to US$53.15 a barrel and the Brent crude oil price pushed 3% higher to US$61.95 a barrel. Oil prices rose after Saudi Arabia advised that it is preparing to slash its shipments to U.S. refiners within weeks in an effort to prevent a price-crushing build-up of American stockpiles.
Pendal Group AGM.
The Pendal Group Ltd (ASX: PDL) share price will be on watch on Friday when the fund manager hosts its annual general meeting in Sydney. The market will no doubt be looking out for a trading update or funds under management update from Pendal this morning.
Domino's Pizza legal action.
The Domino's Pizza Enterprises Ltd (ASX: DMP) share price fell heavily on Thursday after it emerged that an award-winning franchisee is suing Domino's in the Federal Court. According to the AFR, the franchisee alleges "misleading and deceptive conduct, unconscionable behaviour, misuse of market power and breaching the franchise code of conduct by failing to act in good faith." I suspect the pizza chain operator's shares could extend these declines today.
NAB dividend is being paid today.
Later today eligible National Australia Bank Ltd (ASX: NAB) shareholders will receive the bank's final fully franked 99 cents per share dividend in their nominated accounts. Shareholders of Elders Ltd (ASX: ELD) and Technology One Limited (ASX: TNE) are also due to be paid their respective dividends today.
