5 things to watch on the ASX 200 on Friday

After a reasonably volatile day with a number of ups and down, the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) finished higher for the fourth day in a row on Thursday.

The benchmark index rose 0.3% to 5,795.3 points.

Will the market be able to build on this and finish on a high on Friday? Here are five things to watch:

ASX futures pointing higher.

According to the latest SPI futures, the ASX 200 is expected to open the day 13 points or 0.2% higher on Friday. This follows a positive night of trade on Wall Street which late in the session sees the Dow Jones up 0.2%, the S&P 500 up 0.2%, and the Nasdaq index up 0.1%.

Oil prices slide.

Beach Energy Ltd (ASX: BPT) and Oil Search Limited (ASX: OSH) shares continued their positive run on Thursday thanks to oil prices climbing higher for the eighth consecutive trading session. Unfortunately, this run could be coming to an end today. According to Bloomberg, the WTI crude oil price is down slightly to US$52.33 and the Brent crude oil price is also down marginally to US$61.42 a barrel.

Treasury Wine Estates guidance.

The Treasury Wine Estates Ltd (ASX: TWE) share price finished the day almost 5% lower on Thursday after one of its U.S. rivals revealed disappointing wine sales figures. After the market closed, Treasury Wine Estates sought to allay any concerns that it was underperforming with a trading update which revealed that its earnings are tracking ahead of consensus estimates.

Goldman upgrades Costa to buy.

The Costa Group Holdings Ltd (ASX: CGC) share price crashed 39% lower on Friday after a surprising profit warning. One broker that sees value in its shares at this level is Goldman Sachs. It has upgraded Costa’s shares to a buy rating with a $5.90 price target. The broker believes the company’s long term growth story is still intact.

NAB rated as a buy.

The broker has also upgraded its rating on National Australia Bank Ltd (ASX: NAB) shares. The broker has had a change of heart and now believes that the bank’s optimised portfolio will drive superior earnings per share growth. It has a buy rating and $30.76 price target on the banking giant’s shares.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended COSTA GRP FPO and Treasury Wine Estates Limited. The Motley Fool Australia owns shares of National Australia Bank 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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